In the last 24 hours token-meme Shiba Inu fell by 3,66% and settled at $0,00001230. Its market capitalization fell to $7,25 billion. At the same time, the daily trading volume of assets increased more than twofold and exceeded $359 million.
On the daily chart, the SHIB trend is negative. Token-the meme is stuck in a range of lower highs and higher lows, a classic sign of a downtrend. This weakness is confirmed by key momentum indicators.
The MACD line is negatively sloped with no signs of a bullish crossover, and the Relative Strength Index (RSI) is at 43,98, below the neutral 50 level. This suggests that sellers are still in control of the market direction, while Shiba Inu faces pressure and the community questions leadership.
Right now, SHIB is testing its most important current support range between $0,00001220 and $0,00001230. A decisive break and close below this level could lead to further declines to the next support zone at $0,00001200.
On the other hand, short-term resistance lies at $0,00001320–$0,00001330. Moreover, the recent surge has created a local peak at $0,00001355–$0,00001360. Any attempt to change the direction of the movement will most likely face selling pressure in this area.
While the price is falling, trading volume has increased sharply, more than doubling compared to the previous session. Such high turnover indicates that traders are becoming more active at these price levels.