Shiba Inu Price Drops Over 3.5% to Two-Month Low
Shiba Inu (SHIB) experienced a decline of over 3.5%, reaching $0.00001134, the lowest since April 9. This drop coincided with a nearly 3% decrease in Bitcoin's value to $103,800 and broader losses in the crypto market, influenced by geopolitical tensions following President Trump's comments on Iran.
Key points include:
- Rejection at the $0.00001230 resistance level triggered significant selling.
- High trading volumes exceeded 1.2 billion tokens during sell-offs.
- Initial support was noted around $0.00001167 but was breached.
- Market trends are affected by global economic conditions and trade disputes.
- Volatility is increasing as traders analyze support and resistance levels.
Recent Market Insights
- Rejection at the $0.0000123 resistance level occurred between 20:00-21:00.
- Sell-off volumes reached 1.23 billion and 1.31 billion tokens from 22:00-00:00.
- A brief recovery attempt peaked at $0.00001182 with substantial volume (8.8B).
- Subsequent bearish sentiment returned, driving prices down 3% with high volume (9.7B).
- Final consolidation around $0.00001175 shows decreasing volatility and selling pressure.