The Santiment data suggests fading interest in memecoins, with social engagement shifting toward AI-driven narratives. As attention declines, Shiba Inu (SHIB) appears to be losing momentum, remaining stuck in a persistent downtrend since the start of the year while holding support near $0.000005.
Despite showing short-term strength in recent sessions, the SHIB price continues to face firm resistance around $0.00000630, limiting upside attempts. This raises a key question: can the price break above $0.000007 and escape bearish pressure, or will it remain trapped within its current range?
Shiba Inu (SHIB) saw a sharp rally in Q1 2024, jumping over 300% and briefly climbing above $0.000046. Since then, the trend has flipped. The price has continued to form lower highs and lower lows, eventually sliding nearly 88% to around $0.00000530.
Lately, though, the selling pressure seems to be easing a bit. This has allowed SHIB to show some strength, keeping hopes alive for a move toward $0.000007. Still, the bigger question is whether this strength can hold, as repeated rejections at resistance continue to limit any sustained recovery.
A look at the daily chart suggests SHIB is attempting to stabilize after a prolonged downtrend, with price consolidating within a narrow range between $0.0000055 and $0.0000063. The descending trendline continues to act as dynamic resistance, capping recent recovery attempts. While the price is hovering near the mid-range, the Bollinger Bands are beginning to squeeze, indicating a potential volatility expansion ahead. However, the CMF remains in negative territory, reflecting weak capital inflows.
This keeps SHIB at a crucial juncture—where a breakout above the descending resistance could open the path toward $0.000007, while failure to do so may keep the price confined within the current range or even push it back toward the lower support zone.
Key Levels to Watch
Shiba Inu price remains range-bound, trading just below key resistance at $0.00000630, with momentum yet to confirm a breakout. A decisive move above $0.00000680–$0.00000700 could trigger a short-term bullish push toward $0.00000750. However, failure to clear this zone may keep SHIB under pressure, with downside risks toward $0.00000550 and $0.00000500.
For now, the trend remains neutral-to-bearish, with a breakout needed to confirm any meaningful reversal.
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