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Shiba Inu (SHIB) Price Drops 7% in 24 Hours but Remains Up 25% Over the Past Month
Meme token faces significant downward pressure amid shifting economic conditions despite positive developments in US-China trade relations.
Updated May 19, 2025, 2:33 p.m. Published May 15, 2025, 2:58 p.m.
What to know:
- US and China announce significant tariff reductions, with US cutting from 145% to 30% and China reducing from 125% to 10% for the next 90 days, easing global trade tensions.
- US inflation fell to 2.3% in April, reaching its lowest level since 2021, alleviating concerns about tariff-related inflation spikes.
- SHIB experienced a sharp 6.4% decline over 24 hours, dropping from 0.0000159 to 0.0000149, with trading volume spiking to 1.43 trillion SHIB during peak selling, according to CoinDesk Research's technical analysis data model.
The cryptocurrency market is feeling the effects of shifting global economic conditions as faces significant downward pressure.
The meme token's recent price action shows a clear downtrend with consecutive lower highs, breaking through multiple support levels.
STORY CONTINUES BELOW
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The most intense selling occurred during the 07:00 hour when price collapsed to 0.0000149, with volume nearly doubling the average trading rate.
Technical Analysis Highlights
- SHIB dropped from 0.0000159 to 0.0000149, representing a 6.4% decline with an overall range of 0.0000012 (7.5%).
- Price action formed a clear downtrend with consecutive lower highs, breaking through multiple support levels around 0.0000156 and 0.0000152.
- High-volume selling occurred during the 07:00 hour when price collapsed to 0.0000149, with volume exceeding 1.43 trillion SHIB—nearly double the average trading volume.
- Formation of resistance at 0.0000152 and support at 0.0000148 suggests potential consolidation before the next directional move.
- In the last hour, SHIB experienced significant volatility with a sharp decline from 0.0000151 to 0.0000147, followed by a modest recovery to 0.0000149.
- Most intense selling pressure occurred between 13:33-13:36, with volume spiking to over 83 billion SHIB at 13:35, establishing a critical support zone around 0.0000148.
- Price action formed a V-shaped recovery pattern after reaching the session low of 0.0000147 at 13:51, with increasing buying momentum pushing SHIB back above the 0.0000148 level.
External References
- "Shiba Inu Price Analysis: SHIB Primed For 2x Explosion as Meme Season Returns", cryptonews, published May 13, 2025.
- "Dogecoin and Shiba Inu Teeter on Edge of Bearish Reversal: What’s Next for SHIB and DOGE Prices?", CoinPedia, published May 14, 2025.
- " Price Prediction for May 16", Coin Edition, published May 15, 2025.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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