Shiba Inu: A Dog’s 🐕 Life or Just a Flea Bite? 📉

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Ah, Shiba Inu. That little coin that promised us the moon 🚀, and delivered… well, a slightly dusty attic.

  • Shiba Inu bulls, bless their optimistic hearts, tried and failed to shift the momentum bullishly. Again. 😂
  • Liquidation heatmap showed that a 10% price bounce could occur next week. Or not. Who really knows? 🤔

Shiba Inu’s [SHIB] price, in its infinite wisdom, fell by over 8% in the last 24 hours and 10% over the last 7 days. One might say it’s developing a penchant for gravity. Some bright spark last week suggested the $0.000012-support zone could see a price bounce towards the $0.000014-level or higher. Such optimism! Such naivete!

But alas, fate, like a capricious landlord, had other plans. Instead, the $0.0000125-level formed a short-term resistance that the SHIB bulls have struggled to push past. A struggle, I tell you! This also meant that bullish conviction was low, and further losses might be imminent. Imminent, I say! Like a bad cold.

Analysts, those soothsayers of the modern age, expect Q2 2025 to be an ideal time to accumulate altcoins. Yes, 2025! Mark your calendars! Given the consolidation in recent weeks, perhaps long-term Shiba Inu investors need to scoop up more tokens. Or perhaps they need to invest in something that actually produces something. Just a thought. In the lower timeframes, some volatility can be expected in the near term. Prepare for the rollercoaster!

Is this a buying opportunity, or should traders remain wary? (Spoiler: Probably wary.)

Over the past week, the memecoin has traded within a range that extended from $0.000012 to $0.000013. A veritable chasm of opportunity! During this time, the RSI on the 4-hour chart tried to scale the neutral 50 level, but was unsuccessful. It seems even the indicators are tired of this charade.

A few hours before press time, SHIB bulls made another attempt to flip the momentum bullishly. They were met with failure. Again. One wonders if they ever learn. The mid-range level at $0.0000125 as well as the $0.0000124 level have both served as resistance. Stubborn levels, those.

The OBV was on a sideways trend and did not exhibit bullish or bearish dominance over the past week. As such, the range formation can be expected to continue. Some near-term volatility is possible, but the trading volume has been quite low. Perhaps everyone is out buying bread.

Even though Shiba Inu was at the short-term range low, a price bounce towards the highs might not be likely. The immediate resistance levels at $0.0000125 may be likely to prevent a bounce. Traders can wait for a hike in trading volume to look to buy. Or they can wait for the Second Coming. Either way, patience is key.

A breakdown below the range is also possible due to the low volume. The suspense! It’s killing me! (Not really.)

Finally, the liquidation heatmap of the past week outlined the range formation, roughly. The liquidity pockets to watch would be $0.0000119 and $0.0000118, as well as $0.0000125 marking the local highs. So many numbers! One’s head spins!

Hence, at the time of writing, it seemed likely that Shiba Inu would fall further in the coming hours, before bouncing towards its range highs. Swing traders can look to go long, but must be extra careful with the position’s risk. Or, you know, just buy a nice hat. Less risky, more stylish. 😉

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2025-04-07 10:17