Shiba Inu (SHIB) is currently navigating a complex market phase characterized by consolidation and bearish trends. Trading at around $0.0000128, SHIB has shown a modest increase of 0.57% over 24 hours while defending a crucial support zone between $0.0000126 and $0.0000127. This support area has proven resilient, with buyers entering to maintain price levels, although the token has struggled to break above key resistance near the $0.0000129 to $0.0000130 range multiple times.
Daily trading volume has risen by 6.32% to approximately $146.88 million, indicating growing market interest despite subdued price momentum. However, technical indicators give mixed signals: the MACD shows a minor bearish crossover suggesting uncertainty, while the RSI at 38.54 moves toward oversold territory, implying possible downside risk but also potential for renewed bullish momentum if it crosses above 50.
The tokenomics reveal a reduction in SHIB burn rate, down nearly 89.46% with only about 1.57 million SHIB tokens burned in the past 24 hours, yet over 410 trillion tokens have been permanently removed historically. Furthermore, about 4.75 trillion SHIB tokens are staked, reflecting confidence from long-term holders.
Conversely, recent bearish pressure has led to a significant 39% price decline from early May levels, with SHIB dropping to approximately $0.00001250. This downward trend has shaken investor sentiment and reduced on-chain activity, consistent with broader market stress and diminished crypto financial stability. Past bearish patterns suggest further corrections could be possible absent significant investor confidence recovery or support level holds.
Long-term price forecasts for SHIB by various analysts range widely, from conservative projections of $0.000005 to optimistic peaks near $0.000712 by 2030, reflecting the uncertainty surrounding this meme token's future trajectory.