Shiba Inu Price Drops 12% as Bears Regain Influence

Shiba Inu (SHIB) is currently consolidating around $0.00001490, following a recent high near $0.00001720. The cryptocurrency has entered a descending triangle structure on the 4-hour chart, with sellers defending lower highs. The price is now hovering near a short-term support level of $0.00001460, a zone that could determine whether bulls can regroup or bears take over.

On the 4-hour chart, Shiba Inu's price action shows signs of weakening after facing resistance at the top trendline near $0.00001720. The price has since retraced and is now sitting at a potential decision point, caught between diagonal trendline resistance and horizontal support. Volume has decreased, and price structure has shifted from a bullish spike into a compression zone. This comes after SHIB briefly reclaimed its 0.236 Fibonacci retracement level ($0.00001475) from the weekly swing high of $0.00003344 down to the March low of $0.00001028. Despite reclaiming key territory in early May, SHIB is once again under pressure, with rising volatility at lower timeframes.

On the 30-minute chart, SHIB is trading within a narrow range between $0.00001480 and $0.00001510. The RSI is currently at 45.52 and dropping, showing waning momentum below the neutral 50 level. The MACD is also neutral, with histogram bars fading and signal lines converging, suggesting a lack of short-term bullish conviction. Meanwhile, Bollinger Bands on the 4-hour chart are narrowing, a classic precursor to a volatility expansion. With price touching the lower band near $0.00001447 and failing to recover above the median line ($0.00001552), bears are slowly regaining influence.

From a broader view, the daily chart shows SHIB rejected from the upper supply zone ($0.00001650–$0.00001750) and now testing the lower bound of the demand zone around $0.00001460. This range is critical — if broken, a drop to the $0.00001336–$0.00001305 cluster becomes more likely. The descending triangle visible on the intraday chart, combined with fading MACD momentum and RSI below 50, suggests further downside risk. A close below $0.00001460 would validate the breakdown setup and potentially open a path toward the EMA200 support near $0.00001395.

On the flip side, if bulls manage to reclaim $0.00001552 with volume and momentum confirmation, a bounce toward $0.00001657 could materialize quickly. That said, this would require reclaiming trendline resistance and holding above key EMAs. The Shiba Inu price update shows a consolidation phase at a pivotal point. Traders should monitor this triangle structure closely — a confirmed breakout above $0.00001550 or a breakdown below $0.00001450 will likely define SHIB’s next 48-hour trajectory.