- Shiba Inu’s price looks about as cheerful as a rainy Tuesday, and recent lows are waving frantically, hoping traders will come say hello. 📉
- If you’re looking for reversals and demand, bring a magnifying glass. Or perhaps a telescope. 🧐
Since March, Shiba Inu [SHIB] has been enthusiastically meandering within a range between $0.0000115 and $0.0000142. This is neither dramatic enough for Netflix, nor quite dull enough for a tax seminar. After a short-lived attempt at optimism in May, the memecoin collapsed through the $0.0000152 ‘support’ (a term here meaning ‘suggested starting point for falling’), creating something called a descending triangle pattern—a classic in the Geometry for Anxious Markets syllabus.
The boffins at AMBCrypto looked at this shape and, channeling their inner crystal ball, predicted a further price drop. Lo and behold, down it went, bouncing off the floor like a particularly underwhelming attempt at parkour. So, what now for our four-legged digital friend?
Will Shiba Inu visit the next surprise party at the liquidation cluster?
TA, or Technical Analysis (not to be confused with Tired Analysts), continues to issue baleful glances at SHIB. When it lost $0.0000152 as support—the crypto equivalent of losing your keys on a rollercoaster—SHIB promptly retested that level as resistance, which is market-speak for “No soup for you!” The bears have been in charge since late May, and frankly, they’re redecorating.
The RSI has been glue-gunned below 50 for three weeks, which is great if you’re shorting but less so if you’re emotionally attached to small dog tokens. Meanwhile, OBV has been on a southbound excursion since May, fueled by a steady flow of sellers. Yes, the OBV is leaking more than my teapot, and that’s saying something.
Just in time for Friday the 13th (no, really), Shiba Inu found new lows at $0.0000114. At press time, $0.000012 was still trying to act as support—think of it clinging to a windowsill in a stiff breeze. Whether it holds on, or slips faster than your new year’s resolutions, is still anyone’s guess. The ‘downward wick’ from last Friday is just sitting there, waiting to be tested again like it’s the universe’s least-favorite doorstop.
The three-month liquidation heatmap, which looks as cheerful as an accountant’s dream journal, confirms more trouble brewing. There are two juicy clusters of liquidity just waiting for the market’s next surprise party: one up at $0.0000136 (farther away than my motivation), and another magnetic field at $0.0000114—the Friday low, which must be feeling quite popular right now.
These layered liquidation levels are supposed to act like a trampoline but may end up more like a soggy mattress. Price could bounce down to these levels soon, but let’s not get ahead of ourselves, because as OBV keeps drooping the idea of a proper bullish reversal is about as reliable as a weather forecast on Vogon day.
If you fancy yourself a contrarian wizard, watch that $0.0000110-$0.0000114 patch on lower timeframes for a dazzling bullish divergence—or perhaps just a polite cough in the right direction. If you spot one, congratulations! You may proceed to long. Otherwise, don’t be shocked if the short-term mood remains as bearish as a towel left in the rain. 🐕🦺🚀
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2025-06-16 11:06