Shiba Inu’s Epic Battle: Will It Rise or Just Wag Its Tail?

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In a world where dog-themed cryptocurrencies reign supreme, Shiba Inu (SHIB) has decided to strut its stuff, rising a whopping 4% in the last 24 hours to a staggering $0.0000144. Yes, you heard that right! According to the wise sages at CoinMarketCap, the broader crypto market is showing signs of life, much like a cat that just realized it’s been ignored for too long. Meanwhile, Bitcoin and Ethereum are having their own little party, surpassing $106,000 and $2,900, respectively, while the rest of us are just trying to figure out what to do with our lives. 🐶💰

But hold your horses (or dogs, in this case)! Shiba Inu might be trying to bounce back, but lurking ahead is a monstrous 532.56 trillion SHIB, waiting at the next key resistance range like a particularly grumpy bouncer at a nightclub. This could very well determine whether SHIB decides to throw a wild party or just sulk in the corner. 🎉

According to the all-knowing IntoTheBlock data, 532.56 trillion SHIB were previously snatched up by 126,200 addresses between $0.000015 and $0.000019 at an average price of $0.000017. This massive supply cluster is like a potential sell wall, where addresses in this range might be looking to cash in their chips. If the Shiba Inu bulls can muster the strength to break through this zone, we might just see a rally that could test higher resistance levels between $0.000019 and $0.000024. Or, you know, it could just flop. Who knows? 🤷‍♂️

SHIB Price Action

Since May 10, Shiba Inu has been on a steady decline, much like my motivation to go to the gym. It briefly surged to dizzying heights of $0.00001764 on May 12, but alas, the momentum decided to take a vacation. Since then, Shiba Inu has only managed to mark two out of nine days in the green. Sunday was a glimmer of hope, with Shiba Inu reaching highs of $0.00001536, but it seems the gains were as fleeting as a good hair day. 🥴

Technically speaking, Shiba Inu’s next resistance level is $0.00001764, which is just ahead of the daily SMA 200 at $0.00001826. However, if the losses continue, support is expected around the daily SMA 50 at $0.00001327. The daily RSI, sitting at the midpoint of 50, predicts a period of consolidation in the coming days, with Shiba Inu likely trading between its daily moving averages of 50 and 200, which are $0.00001327 and $0.00001824, respectively. So, buckle up, folks! It’s going to be a bumpy ride! 🚀

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2025-05-20 15:03