Shiba Inu (SHIB) has registered a solid intraday gain of 9.2%, with its price reaching $0.056973 and pressing against a critical resistance level at $0.057215. The token's trading action has been confined to a specific range, with immediate support found at $0.056382. On shorter timeframes, the SHIB/USDT 30-minute chart showed a push to a peak of $0.00000725 before a slight rejection and pullback.
The broader context reveals a more complex picture. SHIB has gained 31% from its cycle low of $0.00000500 recorded on February 6, 2026, reclaiming monthly support at $0.00000629. However, the recovery faces a major test at the $0.00000700 resistance level. Analysts note a concerning bearish divergence as the Chaikin Money Flow (CMF) indicator remains in negative territory despite the price rise, suggesting the rally may lack support from genuine institutional accumulation.
In contrast, derivatives markets are signaling a shift in sentiment. The weighted funding rate for Open Interest (OI) has flipped positive over the past 24 hours, indicating that short-sellers are paying a premium—a sign of growing optimism in leveraged markets. The long-to-short ratio across exchanges is at 1.02, with Binance users showing particularly bullish aggression at a ratio of 1.71.
On the supply side, the SHIB community has been actively moving trillions of tokens off centralized exchanges into self-custody, reducing the liquid supply available for sale. This behavior, combined with the token's deflationary burn mechanism, could create a supply crunch if demand holds or increases. Despite these factors, SHIB remains 92.58% below its all-time high of $0.00008845.
The short-term outlook hinges on a decisive break above the $0.057215 / $0.00000700 resistance. A successful breakout could propel prices toward $0.00000730 and beyond. Conversely, a failure and break below the $0.056382 support could see SHIB retest levels near $0.00000689 or even the cycle low.
