Shiba Inu's on-chain activity jumped 216 percent in a short period and 1.6 billion SHIB was added to related indicators, but its price trend has instead weakened.

U.Today, a blockchain outlet, reported on Sept. 16 that despite the surge in network activity, the SHIB chart has not shown additional buying interest flowing in.

What the market is watching now is not the increase in activity itself but the fact that the price is failing to keep up. After again confirming resistance in the $0.00000520 to $0.00000530 range, SHIB is trading around $0.00000485. It has fallen below short- and mid-term moving averages clustered around $0.00000500 to $0.00000515. This area previously acted as dynamic support but has now turned into overhead resistance.

On-chain indicators alone show activity around the token has risen quickly. Even so, SHIB has often seen on-chain spikes like this fail to lead to long-term price gains in the past. The daily chart also does not clearly show, for now, whether this activity is accompanied by a rise in actual demand.

The technical trend is more complex. After starting to recover from about $0.00000410 in July, SHIB made a strong attempt to rise toward $0.00000620 in August. But that breakout did not lead to a trend reversal. A September rebound also stopped at $0.00000550, below the August peak. As a result, a pattern of lower highs and shorter rebounds is continuing.

Long-term moving averages are also a burden. The long-term moving average is formed around $0.00000565, well above the current price. This level shows the overall structure still leans to the bearish side. The relative strength index (RSI) has also dropped below the neutral line of 50, pointing lower.

In the short term, $0.00000480 was presented as a key level. If this breaks, there are not many clear support zones until $0.00000460 to $0.00000440. If it cannot hold there either, the area around $0.00000410, the July low, could again come under market test.

To reverse the trend, SHIB would first need to regain the $0.00000500 to $0.00000515 range and then settle above the clustered moving averages. It would then need to move above $0.00000550 again to be seen as a sign of a structural recovery. For now, the on-chain changes of a 216 percent surge and an additional 1.6 billion tokens stand out, but without corresponding buying pressure, they are not enough to overturn chart weakness.

This move again showed that rising on-chain activity alone does not guarantee a price reversal. SHIB has entered a phase where actual buying interest and the recovery of technical support matter more than network indicators.