- Despite a 76% spike in trading volume, SHIB’s daily price drop of 2.23% signals waning short-term momentum.
- Key resistance lies at $0.00001527 and $0.0000147; breaking these could pave the way toward the $0.000017 psychological target.
- RSI remains neutral, and a bearish MACD suggests SHIB is in a wait-and-see phase pending a decisive catalyst.
The crypto relief rally has still favored Shiba Inu, pushing its market cap from around $7 billion to well past $8.41 billion. Despite this staggering upswing, the momentum has slowed now registering a 2.23% drop in just one day despite its 24-hour trade volume increasing by more than 76%. The recent spike in activity suggests decreasing momentum following its strong upward move.
Despite a recent dip in price, SHIB’s investor base has remained steady, with 1.50 million holders. The circulating supply has grown to 589.24 trillion SHIB. As of May 19, the token stood at $0.00001420. In the last week, SHIB had a minor 1.0% fall but still retains a solid 21.1% rise in the last month.
SHIB Eyes Breakout as Momentum Builds Near Key Resistance
According to analyst CW8900, Shiba Inu (SHIB) is approaching a potential short-term convergence breakout, as recent trading activity signals growing momentum near key resistance levels. Over the past 24 hours, the token has started to move past a significant sell wall. If this momentum holds, technical analysts are watching $0.000017 as the next crucial threshold. A sustained push beyond this level could indicate the start of a broader price shift in the short term.
If the $0.000017 level is surpassed, SHIB may break unlimited resistance above that zone, potentially creating room for further upward movement. While the potential for upside remains, the next few sessions will likely determine whether SHIB can sustain this momentum.
SHIB Indicators Reflect Uncertain Momentum
SHIB 1-hour technical indicators show a lack of strong momentum, with investors balancing short-term strategies under conditions of low volatility. The Relative Strength Index (RSI) is trading between 37.28 and 47.03, placing SHIB in a neutral state-neither oversold nor overbought. This range-bound movement tends to indicate a market waiting for a clear catalyst to define its next direction.
The MACD indicator is showing a bearish signal, where the MACD line is trading below the signal line. Moreover, the negative histogram reflects the lack of building momentum, highlighting the cautious outlook.
Key Levels to Watch Moving Forward
Technically, support is solid at $0.00001417-a major psychological level that aligns with recent consolidation activity. A more solid support zone is located at $0.00000060, which has historically been a reliable floor, having been tested multiple times in previous market cycles.
On the upside, immediate resistance lies at $0.00001527. If bulls manage to break through this level, the next key target is $0.000017-beyond which the long-term psychological milestone of $1 could come into focus. These levels mark previous highs and are expected to attract strong interest from both retail and institutional traders.
