What to know:
- In a stunning display of financial gymnastics, SHIB soared a whopping 3.18% with the kind of volume support that would make a whale weep, only to plummet 1.9% faster than you can say “market volatility!”
- Over 25.74 trillion SHIB tokens are currently lounging in a cozy $0.000014-$0.000015 support/resistance zone, held by a staggering 34,170 addresses. Talk about a crowded party!
- Despite a mind-boggling 106,040% spike in the 24-hour burn rate (yes, you read that right), SHIB is still playing hide and seek below a rather grumpy descending trendline resistance. 🐋
Shiba Inu has been throwing a bit of a tantrum lately, displaying conflicting market indicators like a cat deciding whether to sit on your keyboard or knock your coffee over. Initially, it showed bullish momentum, but then it was like someone flipped a switch and the selling pressure came crashing down.
Technical analysis suggests SHIB is consolidating below key resistance levels, with traders peering into the $0.00001450-$0.00001600 zone like it’s the last slice of pizza at a party. On-chain metrics are less than cheerful, showing a decline in whale netflows (-311%) and a staggering 68% drop in active addresses since December. Ouch!
The current market structure hints at a continued ranging behavior, which might just precede a decisive directional move—if only it could break above the descending trendline resistance at approximately $0.00002044. But hey, no pressure!
With only 17% of holders currently basking in profit while over 80% are swimming with the fishes, any significant price increase could face a tidal wave of selling pressure as investors scramble to break even. It’s like watching a game of musical chairs, but with more anxiety and fewer chairs.
Analysts are as divided as a family at Thanksgiving dinner, with some spotting potential bullish patterns while others are waving red flags about weakening fundamentals. Who knew finance could be so dramatic?
Technical Analysis Highlights
- SHIB established significant high-volume support at $0.00001417 during the 19:00 hour, followed by consistent buying pressure. It’s like a rollercoaster that just won’t stop!
- Notable volume spikes occurred during the 04:00-06:00 timeframe, exceeding 700 million USD, confirming initial bullish momentum. Someone call the paramedics!
- The final trading hour saw a sharp 1.77% retracement from the high, suggesting profit-taking after the rally. Because who doesn’t love a good profit-taking party?
- A bearish EMA stack has formed, with price struggling to reclaim the 50-day moving average. It’s like trying to lift a boulder with a toothpick!
- A descending channel pattern emerged in the hourly chart, with lower highs and lower lows indicating short-term bearish sentiment. The plot thickens!
- A volume spike of over 110 billion in trading coincided with a sharp breakdown below key support levels. It’s a wild ride, folks!
External References
- “SHIB Price May Jump to $0.000033 in Upcoming Rally, Analyst Says”, The Crypto Basic, published May 20, 2025.
- “Shiba Inu Coin Reaches Bearish EMA Stack After Early May Rejection: Will It Hold $0.00001450?”, CoinPedia, published May 20, 2025.
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2025-05-21 12:04