- SHIB is consolidating above the $0.00001161 support level, with repeated rejections near $0.00001202 marking the immediate resistance zone.
- RSI at 61.77 and a flat MACD suggest price stability, signaling no strong bullish or bearish bias in the short term.
- Shiba Inu’s market cap rose 2.12% to $7.02B, trading volume surged 34.31%, and over 9.1 million tokens were burned in seven days, showing increasing ecosystem activity.
Shiba In u(SHIB) is currently trading at $0.0000119 and this represents a negative change of 2.0% in the last seven days . The asset is not below a major support point of $0.00001161 but has the 24-hour trading range within the range of 0.00001161 and 0.00001202. Recent market information also indicates that the two are trading at 0.091061 BTC, which is 0.6 percent, and 0.082890 ETH, which is 1.0%. This range being consolidated is indicative of the significance of the immediate support l.
Shiba Inu market cap has increased 2.12% currently at $7.02B with the volume at $150.81M which is a 34.31% surge. Meanwhile, SHIB burn activity intensified, with 171,675 tokens destroyed in the past 24 hours and over 9.1 million burned within seven days.
Chart Patterns Indicate Key Resistance Levels
The daily chart displays a descending trendline, with price repeatedly testing resistance levels. Notably, upside attempts have been rejected near $0.00001202, the identified resistance. The chart also shows several higher lows aligning with support, reinforcing the $0.00001161 base.
Furthermore, breakout arrows indicate potential upward moves if buying pressure builds beyond the trendline. This technical structure underscores that resistance remains a key factor for the token’s immediate performance.
Momentum Indicators Signal Market Stability
Shiba Inu is trading at $0000119, and this indicates a depreciation of 2.0 percent in the past seven days. The asset also exceeds a critical support level of $0.00001161 and the 24 hours trading range is between the level of $0.00001161 and the level of 0.00001202. As of now, the two are trading 0.091061 BTC (up 0.6 percent) and 0.082890 ETH (down 1.0 percent). The fact that the consolidation is around this range means the significance of the immediate support l.
Bottom Line
The price movement of Shiba Inu indicates a market that is at equilibrium , where the price remains above an important support area and the price is being rejected at a specific resistance level again and again. The fact that both RSI and MACD give neutral signals points to continuing consolidation. Bullish action above $0.00001202 might turn the tide in favor and a loss of $0.00001161 might cause fresh bearishness.
