Shiba Inu ($SHIB ), one of the most watched cryptocurrencies, is going through a quiet and cautious phase. Despite a 1.44% decline in the past 24 hours, the token maintains its stability near the level of $0.00001170.

This area has recently formed a key price level, indicating that it may define the next big move for $SHIB

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Price movement for #SHİB reflects market sentiment

The short-term chart for SHIB reveals mixed performance. The token opened in a bearish trend but attempted a slight recovery mid-day. However, momentum quickly waned. The daily trading range was narrow, between $0.00001113 and $0.00001189. Notably, the upper limit of this range represents a strong resistance level, rejecting multiple breakout attempts.

Meanwhile, the level of $0.00001113 represents a critical support area. Any sustained breach below this level could open the door for further declines. However, price resilience around the level of $0.00001170 keeps hopes alive for a breakout attempt. This level, which has been tested repeatedly, could serve as a launch point if trading volume increases.

Indicators show steady momentum with a bearish tilt.

The daily chart for the stock price of #SHIBUSDT

Technical indicators suggest cautious neutrality. The MACD remains slightly negative, with a slight decline in both the MACD and signal lines. This indicates weak bearish momentum without a clear trend.

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The relative strength index is currently around 35.72, approaching the oversold area. This indicates buyer hesitation, although any shift in sentiment could trigger a rapid reversal.

Moreover, the market capitalization is $6.9 billion, with a 24-hour trading volume of $153.4 million. These figures reflect a good interest in the market, though not enough to support strong rallies so far. The trading volume to market cap ratio of 2.22% indicates liquidity stability and short-term trading activity.

Burn metrics and year-end forecasts

According to Shibburn data, over 410 trillion SHIB tokens have been burned from the initial supply. However, the burn rate over the past 24 hours has slowed to zero, with only 19 million tokens burned. This lack of intensive burning may dampen hopes for near-term contraction.

Despite current trends, CoinCodex analysts expect SHIB to trade between $0.00001701 and $0.00001947 by December 2025. If realized, this would represent a price increase of over 60%. Thus, SHIB may still offer promising returns for long-term investors, especially if overall market conditions improve.