- SHIB struggles with bearish sentiment, holding near $0.000015 support levels.
- Key resistance at $0.00001650 and $0.00001600 limits SHIB’s short-term recovery.
- Without a volume surge, SHIB’s price recovery could lack sustainable momentum.
Shiba Inu (SHIB) has been facing turbulent market conditions, with its price declining sharply ahead of May 14. As of press time trading around $0.00001567, SHIB has shed over 8% in the past 24 hours. This recent drop marks a continuation of bearish sentiment that has dominated much of the short-term trend.
Despite a brief spike earlier in the day, the price quickly retreated, suggesting weak bullish conviction. As SHIB attempts to stabilize, investors are eyeing key support and resistance zones to determine the next possible move.
Short-Term Price Behavior and Market Sentiment
Over the past day, SHIB reached a high near $0.00001732 before losing momentum. The descent was steady, with minor intraday rebounds failing to break resistance levels. Notably, the $0.00001650 and $0.00001600 zones acted as barriers during attempted recoveries. Consequently, the price continued slipping toward lower supports.
Support appears to be holding near the $0.00001500 psychological mark. Below that, a critical range between $0.00001480 and $0.00001460 shows signs of accumulation. This base could help SHIB stabilize, but the selling pressure remains a concern.
The 24-hour trading volume also dipped by 6.6%, signaling reduced investor engagement. Moreover, the market cap has fallen to $9.23 billion, reinforcing the ongoing bearish undertone.
Broader Trend and Key Technical Levels
Looking at the daily timeframe from 2021 to mid-2025, SHIB’s journey reflects major cycles of hype and consolidation. The explosive rally in 2021 pushed SHIB to an all-time high of $0.00008800. However, 2022 brought a steep correction that extended into a quiet, sideways market in 2023.
In 2024, SHIB attempted a breakout, yet strong resistance near $0.00002500 halted any sustained momentum. As of now, the price flirts with the 200-day SMA at $0.00001833. If SHIB can break above it, bullish sentiment might return. A golden cross involving the 50-day and 200-day SMAs would further confirm a reversal, but that setup has yet to occur.
Outlook for May 14
Heading into May 14, SHIB remains in a fragile state. For a bullish scenario, it must reclaim levels above $0.00001650. Failing that, revisiting the support zone between $0.00001480 and $0.00001460 seems likely. Investors should also monitor volume closely. Without a spike in trading activity, even a technical breakout may lack sustainability.
