Shiba Inu Price Forecast: On-chain data raises bull trap risks

Shiba Inu (SHIB) price nears key resistance level, trading at $0.0000060 as of writing on Thursday, which dictates the next directional move. Shiba Inu’s price nears the 50-day EMA at $0.0000060 on Thursday, following a slight recovery the previous day.On-chain data shows SHIB’s rising dormant wallet activity alongside spikes in NPL and trading volume, signaling a bearish move… Shiba Inu (SHIB) price nears key resistance level, trading at $0.0000060 as of writing on Thursday, which dictates the next directional move. Shiba Inu’s price nears the 50-day EMA at $0.0000060 on Thursday, following a slight recovery the previous day.On-chain data shows SHIB’s rising dormant wallet activity alongside spikes in NPL and trading volume, signaling a bearish move ahead.Traders should be cautious, as a bull trap may be forming.Shiba Inu (SHIB) price nears key resistance level, trading at $0.0000060 as of writing on Thursday, which dictates the next directional move. On-chain data… For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.