Shiba Inu (SHIB) Drops 14.92% Weekly, Faces Bearish Momentum

Shiba Inu (SHIB), a popular meme coin, has experienced significant price fluctuations recently. As of April 2025, the price movements of SHIB across various timeframes provide crucial insights for traders and investors. By examining SHIB’s performance on weekly, daily, 4-hour, and 1-hour charts, potential entry and exit points, key support and resistance levels, and overall market sentiment can be identified.

Over the past week, SHIB has declined by approximately 14.92%, with a monthly decrease of 5.99%. Currently, SHIB is trading well below its peak of $0.00009000, which was achieved in September 2021. On the daily chart, SHIB remains bullish above the $0.000012 support level, although it faces resistance from downward-sloping exponential moving averages (EMAs). The Moving Average Convergence Divergence (MACD) is nearing a bearish crossover, which could indicate a shift in momentum.

The 4-hour chart shows SHIB consolidating within a symmetrical triangle pattern, suggesting market indecision. A breakout in either direction could trigger significant movement, with a potential upward breakout targeting the $0.000020 resistance level.

On the 1-hour chart, SHIB is testing the crucial support level at $0.00001100, with additional support at $0.00001051 and $0.00001001. If SHIB holds above this support, it could rally toward resistance at $0.00001278 and $0.00001403. Conversely, a breakdown below $0.00001100 may lead to further declines.

Key support levels to watch are $0.00001000 and $0.00000900, while resistance levels include $0.00001278, $0.00001403, and $0.00001541. A strategic approach for traders could involve entering long positions above $0.00001100 with a target of $0.00001278. Take-profit levels could be set at $0.00001403 and $0.00001541, with a stop-loss placed below $0.00001000 to manage risk. It is essential to conduct thorough analysis and risk management when trading volatile assets like SHIB.

Shiba Inu (SHIB) is currently consolidating around the crucial $0.000012 support level, which has historically served as a base for reversals. The cryptocurrency is trading at $0.00001245, struggling to maintain its position above this critical threshold. This support area has been tested multiple times over the past year, making it a psychologically significant level for both bulls and bears. A breakdown below this level could trigger substantial selling pressure, potentially pushing SHIB back toward the $0.000010-$0.0000095 range. The price action over the last few weeks has shown a declining structure, with lower highs driving the trend. Additionally, any bullish momentum that SHIB has attempted to generate is being capped by the overhead resistance of all major moving averages, including the 50, 100, and 200-day exponential moving averages (EMAs).

The recent trading activity has shown modest increases, indicating that sellers still control market sentiment despite short-lived rallies by individual investors. The Relative Strength Index (RSI) is hovering close to neutral at 47, suggesting that there is still potential for movement in either direction, but a bearish bias is beginning to emerge. The $0.000012 support level is currently the focus of attention. A trend reversal may begin if SHIB can recover firmly from this area. However, if the support breaks, SHIB is susceptible to additional losses, with the next significant price floor located much lower. To maintain signal strength in the near future, SHIB needs to not only hold this support but also recover $0.00001375. Until then, the market's prevailing sentiment is caution.

Strategic SHIB traders are also keeping an eye on key resistance levels around $0.000015 for confirmation, while monitoring Bitcoin's price action. Possible scenarios for SHIB's price forecast based on historical trends and capital flow dynamics include a conservative target of $0.000015 – $0.000017. The forecasted price range for SHIB is between $0.00001113 and $0.00001253 for an average monthly price of $0.00001168. Investors could experience a potential gain if these levels are reached. However, the current price of SHIB stands at $0.0000122 following a 4.8% loss, which aligns with a larger market drop. The SHIB token update indicates that the token's price is currently under pressure, and the market is awaiting a catalyst to drive a breakout.