Shiba Inu Drops 12% in 24 Hours, Fails to Reach $0.000014

Shiba Inu (SHIB), a prominent memecoin in the cryptocurrency market, has faced a challenging week, with its price currently standing at $0.00001082. Over the past 24 hours, the token has experienced a decline of over 12%, and its value has dropped by approximately 10.87% over the past week. Despite previous optimistic predictions, Shiba Inu has not reached new heights as anticipated.

Last week, analysts identified the $0.000012 support zone as a potential bounce point, with hopes of a push towards $0.000014 or higher. However, this bounce did not materialize. Instead, Shiba Inu struggled around the $0.0000125 level, which has now become a short-term resistance. The bulls attempted to break through but failed, indicating low market confidence.

On the 4-hour chart, the Relative Strength Index (RSI) attempted to cross the neutral 50 line, a level that typically suggests a shift in momentum, but it failed to do so. This further indicated that the bullish momentum was not strong enough. The bulls made a final effort to reverse the trend a few hours ago, but they were unable to sustain it. Resistance remains strong around $0.0000124 and $0.0000125.

The On-Balance Volume (OBV) indicator has shown little movement, remaining sideways. This suggests that neither buyers nor sellers are dominant. Additionally, trading volume has been low, signaling a lack of interest or caution among traders. As a result, SHIB has been confined to a tight range between $0.000012 and $0.000013 over the past week.

Given the weak volume and sideways movement, the range pattern is likely to continue in the short term. However, the decreased trading volume could lead to a drop below the current range. Key liquidity points to watch are $0.0000119 and $0.0000118, which will attract trader attention if the price continues to fall. Conversely, recovery attempts will face resistance at the $0.0000125 level.

Analysts suggest that Q2 2025 could be an opportune time to start accumulating altcoins, including SHIB. While a bounce does not seem likely at the moment, the current range low could present a buying opportunity, provided it is supported by higher volume. Swing traders looking to go long should carefully manage their risks and monitor any sudden changes in trading volume before making a move.

In conclusion, Shiba Inu's recent price action reflects caution and uncertainty in the market. While a significant breakout is not imminent, a dip followed by a rebound to range highs is still possible. Traders and investors should remain vigilant, focus on key levels, and watch for volume changes to make informed decisions in the coming days.