Shiba Inu Coin Price Retreats 83% Amid Rising Futures Open Interest
- Price Decline: The Shiba Inu (SHIB) token has retreated for six consecutive days, currently priced at $0.0000054, marking an over 83% drop since its peak of $0.00003345 in November 2024, which has erased billions in market value and indicates a significant decline in demand for the token.
- Rising Futures Open Interest: Despite the price drop, SHIB's futures open interest has risen to $65 million, the highest since February 25, suggesting that investors are opening more bearish positions during this downtrend, reflecting a complex market sentiment.
- Falling Funding Rate: The weighted funding rate for SHIB has fallen to its lowest level since December last year, with negative figures indicating that investors anticipate further price declines, exacerbating the prevailing bearish sentiment in the market.
- Macro Economic Factors: The ongoing war in Iran raises inflation concerns, altering market expectations regarding the Fed's rate cuts, which has contributed to a broader decline in meme coins, including SHIB, which has seen over a 50% drop in recent months, highlighting the impact of macroeconomic conditions on the crypto market.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 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 | 0.00000391 | 0.00000459 | 0.00000519 | 0.00000587 | 0.00000647 | 0.00000715 | 0.00000775 |
| Fibonacci | 0.00000459 | 0.00000507 | 0.00000538 | 0.00000587 | 0.00000635 | 0.00000666 | 0.00000715 |
About SHIB
About the author







