Shiba Inu Gains 3.1% as it Tests Resistance at $0.00001288

Shiba Inu, a popular meme coin, is currently trading near $0.00001281, marking a 3.1% intraday gain as it attempts to recover from recent lows. The token has bounced from a demand zone near $0.000012 and is now testing the lower boundary of a descending trendline. Multiple indicators suggest early recovery signals, with traders closely monitoring whether this bounce can evolve into a sustainable upside move.

Over the past 48 hours, Shiba Inu's price action has shown signs of a potential bottoming structure on lower time frames. A sharp rebound from the $0.000012–$0.0000122 support region marked a temporary halt to the broader downtrend that dominated late May and early June. The 4-hour chart reveals a symmetrical breakout attempt from a falling wedge pattern, with SHIB pressing against immediate resistance near $0.00001288. This resistance aligns with the 100-EMA and a previously broken trendline. The token must close above this cluster to shift momentum further in favor of bulls.

The current structure includes multiple short-bodied candles with higher lows, suggesting a gradual return of buyer confidence. However, a decisive close above the wedge resistance remains key to invalidating the recent bearish structure. Momentum indicators support the possibility of short-term continuation. The 30-minute RSI has surged above 69, reflecting bullish strength but nearing overbought territory. Meanwhile, the MACD histogram has flipped positive, with both signal lines crossing above the baseline for the first time this week. This convergence hints at improving upside momentum and a potential revisit of the $0.000013–$0.00001325 range if follow-through volume builds.

However, the daily RSI remains neutral, currently hovering in the mid-40s. This keeps longer-term sentiment cautious despite the intraday recovery. Traders should be alert for any bearish divergences on shorter timeframes, especially as SHIB approaches tightly packed EMAs. The 4-hour Bollinger Bands are starting to compress, indicating decreasing volatility and the potential for a sharp breakout. Price is currently testing the middle band near $0.0000128, coinciding with the 20-EMA. A sustained close above this midpoint would open the door for a test of the upper band near $0.0000135.

Meanwhile, the 50- and 100-EMAs continue to act as dynamic resistance, sitting around $0.00001325 and $0.00001369 respectively. If bulls manage to clear this range with strong volume, it would mark the beginning of a structural reversal. Until then, this cluster remains a major barrier. From a cloud-based view, the Ichimoku setup on the 30-minute chart now shows price rising above the Kumo with bullish Tenkan-Kijun alignment. Additionally, the future cloud is beginning to twist bullish, adding further evidence to the case for short-term upside.

The Stochastic RSI shows extreme bullishness, with both lines holding above 80. While this can be a sign of strength in an ongoing move, it also signals caution for new long entries, as a cool-off phase is possible before continuation. Using Fibonacci retracement from the recent swing high of $0.00001763 to the swing low of $0.00001291, the 0.382 level at $0.00001483 and the 0.5 retracement at $0.00001396 emerge as medium-term resistance zones. The current Shiba Inu price is yet to break the 0.618 retracement near $0.00001309, which remains the first target for bulls aiming for a mid-June recovery.

A rejection near this level would keep SHIB locked in a broader range, while a clean break could revive interest in a climb back toward $0.0000148–$0.000015. The rebound appears technical in nature, triggered by a well-defined support zone at $0.000012 and fueled by oversold conditions on lower time frames. Improved sentiment across the altcoin sector, combined with a short squeeze effect on intraday shorts, has accelerated the recovery. Moreover, SHIB’s correlation with Ethereum and Dogecoin, both of which saw brief rallies, added momentum. However, macro conditions remain fragile, and traders should not ignore the risk of another breakdown if SHIB fails to close above $0.00001325.

As of June 7, SHIB is attempting to break past short-term resistance, but still faces structural hurdles ahead. For June 8, the focus will remain on whether the token can sustain gains above the $0.00001290–$0.00001310 region. Unless SHIB decisively breaks through the $0.00001325 ceiling, the Shiba Inu price will likely remain in a sideways-to-bearish posture heading into mid-June. Any move above $0.0000135 could catalyze renewed bullish interest and a potential return to the $0.0000148–$0.000015 zone. However, failure to hold above $0.0000125 may result in another retest of the $0.000012 demand zone.