One glances at the TradingView chart and, in the manner of an unwelcome telegram bearer at a genteel country house, is assaulted by the realization: Shiba Inu’s price has performed a feat worthy of a second-rate magician-now you see it low at $0.00001203, now, quite inexplicably, it’s pretending to be grand at $0.00001303. One suspects the canine influence.
The intraday candlestick-long of wick, short of mercy-carries all the hallmarks of a minor riot in the parlour: buyers, those frantic enthusiasts in ill-fitting suits, propelled SHIB much higher. Not to be outdone, sellers swanned in at the last, tossing confetti in the form of rapidly descending prices. The party, it seems, ended in tears (and margin calls).
The trading volume for SHIB/USD on Coinbase swelled by 169%, posturing itself like a debutante determined to make the guest list, as per CoinGlass, a name as peculiarly opaque as a London fog.
Breathlessly, one notes that while Shiba Inu briefly flirted with prosperity, it soon stumbled, retracing its gains like an embarrassed butler at breakfast, in tandem with the market’s broader malaise. The price idles at $0.00001238, cherishing its 1.51% increase as a Dickensian orphan clings to a cold potato-thank you, CoinMarketCap, for your relentless optimism.
What happened?
On Friday, Shiba Inu, in a fit of melodrama, plummeted to $0.00001199-ruining, perhaps, someone’s weekend-after earlier touching the giddy heights of $0.00001272. Saturday, ever the contrarian, saw SHIB indulge in a robust ascent from $0.000012, a level so keenly tested one might think the market had a vendetta against it. Indeed, on Aug. 22, the coin executed precisely such theatrics, vaulting from $0.000012 to $0.0000135. If predictability is the soul of wit, Shiba Inu laughs heartily in its face.
The pattern repeated today: SHIB soared again from the $0.00001203 floor, striking $0.00001303, like Gatsby admiring his own reflection-a great green candlestick proclaiming, “why not?” Derivatives trading erupted with $200.16 million in volume, which ought to pay for innumerable lunches at the Ritz, if only it weren’t denominated in questionable tokens.
CoinGlass’s long/short indicator, perched at 1.05, hints that buyers outnumber sellers. Whether this implies a collective epiphany or simply a mob of optimists clinging to a sinking ship, one leaves to the imagination. The market, in its infinite wisdom, has spoken-but whether anyone should listen is an entirely different matter. 🤔🐕💸
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2025-08-30 17:40