Shiba Inu Coin Price Plummets into Bear Market
- Price Crash: Shiba Inu Coin has plummeted from a high of $0.00004565 in March 2024 to $0.0000060, with its market cap collapsing from over $41 billion to $3.7 billion, indicating a severe loss of market confidence.
- Futures Market Activity Decline: According to CoinGlass, Shiba Inu's futures open interest has dropped to $61 million, significantly down from last July's high of over $400 million, reflecting a marked decrease in investor demand.
- Burn Rate Plummets: The burn rate for Shiba Inu has fallen by over 99% in recent days, with only 483 coins worth less than $1 burned in the last 24 hours, highlighting a significant decline in market activity.
- Lack of Catalysts: The biggest risk for SHIB is the absence of major catalysts to drive prices higher, as Shibarium's activity has dwindled, with total value locked decreasing to $856,000, further exacerbating market pessimism.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000359 | 0.00000433 | 0.00000522 | 0.00000596 | 0.00000685 | 0.00000759 | 0.00000848 |
| Fibonacci | 0.00000433 | 0.00000495 | 0.00000534 | 0.00000596 | 0.00000658 | 0.00000697 | 0.00000759 |
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