1. Current Price and Daily Performance $SHIB
- The price of SHIB is currently trading at $0.00001417.
- The price is experiencing significant downward pressure, having attempted to break the key support level at $0.00001583 without success, reflecting seller dominance in the short term.
2. Key Technical Indicators
- Relative Strength Index (RSI):
- The RSI on the weekly timeframe shows a low reading at 0.00, indicating strong bearish momentum and oversold conditions.
- Moving Averages:
- The price is currently trading below the 50-day moving average, confirming a short-term downtrend.
- The relationship between moving averages (50 and 200 days) shows a neutral trend in the long term, but a downward breakout indicates the possibility of continued decline.
- MACD Indicator:
- The MACD shows a bearish signal with the signal line moving below the zero level, reinforcing the likelihood of continued decline.
3. Support and Resistance Levels
- Nearby Support:
- $0.00001231 (Key Support), with the risk of breaking it if selling pressure continues.
- Nearby Resistance:
- $0.00002820, which the price needs to break to begin a noticeable recovery.
4. Factors Affecting Price
- Whale Activity:
- Whale movements (owners of large amounts of SHIB) may impact price volatility, especially with low trading volumes facilitating market manipulation.
- External Events:
- The launch of projects like ShibaSwap 2.0 in May 2025 could support the price if it achieves positive engagement with the community.
- Global regulatory developments in cryptocurrencies may affect market sentiment.
5. Short-Term Forecasts
- Bearish Scenario:
- If trading continues below the 50-day moving average, the price may drop to $0.000010 or lower.
- Bullish Scenario:
- If the price successfully recovers $0.00001583 as support, it may see a recovery towards $0.000020, especially with improving momentum indicators like RSI.
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Summary:
Today's analysis reflects a bearish trend dominance over SHIB, with strong selling pressures supported by technical indicators. Traders are advised to monitor key support and resistance levels, as well as news from developmental projects like ShibaSwap 2.0, which may lead to sudden shifts. It is recommended to use stop-loss orders to avoid risks amid sharp volatility.
