Shiba Inu (SHIB) is currently navigating a period of tight consolidation, trading just above the crucial $0.000011 support level. This sideways action comes as the broader crypto market faces headwinds from global geopolitical tensions and shifting investor sentiment, particularly in the wake of the Iran-Israel conflict and uncertainty around U.S. economic policy. Despite these challenges, SHIB’s price resilience is drawing attention from both retail traders and institutional watchers.
Market Context and Recent Performance
Over the past week, SHIB has fluctuated between $0.00001140 and $0.00001190, with sellers unable to push the price below the $0.00001130 mark 1. This stability suggests that buyers are stepping in at lower levels, even as overall market risk appetite remains subdued. At the time of writing, SHIB is trading at $0.00001156, with a 24-hour trading volume of $91,34M and a market capitalization of $6,81B.
Technical Picture: Bearish Bias, But Signs of Accumulation
Technical indicators currently lean bearish. The daily Relative Strength Index (RSI) sits at 34, close to oversold territory, while the MACD continues to trend downward, hinting at the potential for further declines. SHIB was recently rejected at both the 50-day EMA and a descending trendline, leading to a sharp 14% drop before stabilizing at support 2 1. However, the formation of higher lows and a falling wedge pattern on the 4-hour chart could signal early accumulation and a possible reversal if momentum shifts 1.
On-Chain and Whale Activity
On-chain data reveals that large SHIB holders (whales) have been reducing their positions, with significant outflows observed over the past week. The Net Profit and Loss (NPL) indicator has also dropped sharply, indicating that many holders are realizing losses—a sign of waning optimism and risk aversion among investors. This distribution by whales, combined with a broader exit from high-risk assets, has contributed to the current price pressure 3.
Key Levels to Watch
• Support: $0.000011 remains the key level to hold. A breakdown below this could see SHIB retest its April lows near $0.000010.
• Resistance: If SHIB can break above $0.00001190 and sustain momentum, the next target is the $0.000013 resistance zone, which could open the door for a more meaningful recovery 2 1.
Outlook: What’s Next for SHIB?
While the short-term trend remains cautious, some analysts see potential for a rebound if broader market sentiment improves or if SHIB’s ecosystem developments regain investor interest. Forecasts for July 2025 suggest a possible average price of $0.0000148, with upside capped near $0.0000154 if bullish momentum returns 2. However, continued whale selling and weak risk appetite could keep SHIB rangebound in the near term.
For those tracking SHIB, the coming days will be crucial. A decisive move above resistance could attract fresh buyers, while a breakdown below support may trigger further selling.
