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Shiba Inu Struggles for Direction as Billions of SHIB Tokens Hit Exchanges
SHIB traded between $0.0000132 and $0.0000145 amid investor caution and a wave of token inflows, raising questions about its next breakout move.
Updated Jun 2, 2025, 9:24 p.m. Published May 30, 2025, 8:56 a.m.
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What to know:
- Key Movements: SHIB traded within an 8% range, indicating significant intraday volatility.
- Macroeconomic Factors: Geopolitical tensions and shifting trade policies fueled the market's overall volatility.
- Microeconomic Elements: An influx of over 2 trillion SHIB tokens and a descending triangle pattern signaled potential bearish trends.
From May 29 to May 30, 2025, SHIB experienced marked volatility with prices varying between $0.000013252 and $0.000014508, according to CoinDesk Research's technical analysis data model. A critical support level emerged around $0.000013285, where buying pressure was noticeable, triggering upward reversals.
In contrast, resistance near $0.000014500 indicated waning upward momentum. As SHIB's price stabilized around $0.000013390 towards May 30's end, a decline in trading volume suggested investor caution.
STORY CONTINUES BELOW
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Macroeconomic factors, such as heightened geopolitical tensions and shifting trade policies, contributed to the increased volatility observed in the cryptocurrency market, including SHIB.
Furthermore, the microeconomic backdrop featured an influx of over 2 trillion SHIB tokens into exchanges, which paired with a descending triangle pattern, indicated possible bearish movements.
These market dynamics pushed SHIB's price to remain fairly constrained, despite broader market gains.
Technical Analysis Highlights
- SHIB saw volatility with price oscillating between $0.000013252 and $0.000014508, marking an 8% range.
- Strong price support was detected around $0.000013285, sparking upward reversals.
- Resistance was noted near $0.000014500, where the price momentum weakened.
- Final hour prices stabilized at approximately $0.000013390, with reduced trading activity.
External References
- "Shiba Inu Price Prediction: Is a SHIB Collapse Coming? 2 Trillion Tokens Flood Exchanges", Crypton ews, published May 28, 2025.
- "Shiba Inu Targets $0.000017 Amid Triangle Breakout Hopes", The Crypto Basic, published May 29, 2025.
- "Shiba Inu Price to Pump by 17%? Top Analyst Spots Breakout Signal", CoinPedia, published May 29, 2025.
- "Analyst Identifies Key Trading Setup for Shiba Inu in Current Price Range", Coin Edition, published May 30, 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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