The broader crypto market has slipped back into bearish territory, and Shiba Inu (SHIB) is no exception.
At the time of writing, SHIB is trading at $0.00001329, marking a 1.03% decline over the past 24 hours. The market cap now stands at $7.82 billion, while trading volume has dropped sharply by 29.11% to $120.96 million.
This brings the volume-to-market-cap ratio down to 1.54%, reflecting cooling investor activity.
Currently, SHIB has approximately 1.5 million holders and a total token supply of 589.5 trillion, with its fully diluted valuation mirroring its current market capitalization.
On the hourly chart, SHIB’s price is nearing its immediate support level at $0.00001329. A break below this could extend the correction toward $0.00001315.
On the daily chart, no signs of a reversal are evident yet. Should the daily candle close near its low, the downward move could continue toward the $0.00001250 area.
From a broader perspective, the market remains indecisive. Neither bulls nor bears currently dominate the trend.
If SHIB closes the day around current levels, the most probable short-term scenario is sideways movement within the $0.00001330 to $0.00001450 range.
