Shiba Inu Drops 5.4% Amid Selling Pressure, Holds Support

Shiba Inu (SHIB) has recently experienced a 5.4% price decline over a 24-hour period, with its value ranging from a high of $0.00001507 to a low of $0.00001424. This volatility, amounting to $0.00000083 or 5.5%, was marked by intense selling pressure, particularly around the 23:00 hour when volume reached 1.72 trillion, significantly above the 24-hour average. Despite this, SHIB found strong volume-supported resistance at the $0.0000146 level, indicating buyer interest and potential stabilization.

Following the decline, SHIB established a consolidation pattern between $0.00001440 and $0.00001456. Multiple tests of support at $0.00001440 showed strong buyer interest, suggesting that the token may be stabilizing before its next directional move. In the past hour, SHIB experienced significant downward pressure, dropping from $0.00001448 to $0.00001440, representing a 0.56% decline. The token faced intense selling between 13:54-13:57, with volume spiking to 16.45 trillion at 13:57, creating a local bottom at $0.00001430. A brief recovery attempt occurred at 14:01 when the price rebounded to $0.00001441, forming a potential support zone between $0.00001439-$0.00001440. However, momentum remains bearish as evidenced by the inability to reclaim the $0.00001445 resistance level.

Despite short-term fluctuations, blockchain data reveals remarkable holder loyalty, with over 1.13 million addresses maintaining their positions for more than a year. This signals confidence in SHIB's long-term prospects. The Shiba Inu ecosystem continues to develop with a significant Shibarium blockchain update focused on improving decentralization. This aligns with the team's strategy to enhance utility beyond its meme status. While technical indicators show mixed signals with moderate bullish momentum but lacking strong breakout confirmation, AI predictions from platforms suggest potential growth to $0.00003 by 2025, representing a possible 105.9% increase from current levels.