Shiba Inu Price Drops to $0.00001250 Amid Increased Selling Pressure
Shiba Inu (SHIB) experienced a sell-off from $0.00001500 to $0.00001250 between May 29-30, with a notable volume spike during this period. Currently priced at $0.00001266, SHIB has declined by 3.80% over the past 30 days and 54.73% over the last 180 days. The market is showcasing bearish trends.
Key Events of the Sell-Off
- Price dropped sharply from $0.00001500 to $0.00001250 due to increased selling pressure.
- Current trading price is $0.00001266, indicating a slight decline of 0.47% in the last 24 hours.
- Volume analysis shows increased activity during the drop but has since decreased, suggesting reduced selling pressure.
- SHIB appears to be in a consolidation phase, forming a potential base below recent highs.
Support and Resistance Levels
- Short-term support identified around $0.00001250, indicating eased selling pressure.
- Resistance levels are between $0.00001350 and $0.00001400, where previous attempts to rise were unsuccessful.
- The 24-hour price range fluctuates between $0.00001257 and $0.00001308.
- Market sentiment remains bearish; further downside risks persist without a clear reversal or breakout.
In summary, Shiba Inu is currently consolidating near $0.00001250. A breakthrough above $0.00001350 could indicate bullish momentum, while a drop below $0.00001250 may lead to further declines. Monitoring trading volume and market sentiment will be crucial for determining the next movement.
