The SHIB/USDT pair on Binance has shown notable volatility on the 12-hour chart, currently trading at $0.00001169, down 2.83% in the last 24 hours. After peaking at $0.00001567, SHIB experienced a sharp decline, reflecting profit-taking and market uncertainty. The moving averages (MA5: $0.00001164, MA20: $0.00001164) indicate a consolidation phase, while the MACD shows bearish momentum with a value of -0.00000004. Volume has spiked to 1.07T, suggesting strong selling pressure, though the 24-hour volume of 2.00T SHIB indicates sustained interest. The recent news of Litecoin surpassing Shiba Inu in market cap may also be impacting sentiment. Looking ahead, if SHIB holds support around $0.00001120, we could see a potential bounce toward $0.00001238 resistance. However, a break below this support might push prices down to $0.00001028. Traders should watch for a shift in MACD and volume trends for confirmation of the next move. Stay cautious!
