Shiba Inu Stagnates as Exchange Inflows and Market Caution Weigh on Price Action
Shiba Inu (SHIB) traded within a tight 8% range between $0.0000132 and $0.0000145 from May 29 to May 30, reflecting investor caution amid a wave of token inflows and uncertain macroeconomic conditions.
According to CoinDesk Research’s technical analysis model, SHIB found solid support around $0.000013285, where buying interest sparked short-lived rebounds. However, resistance near $0.000014500 capped upside momentum, keeping price movements subdued.
By the end of May 30, SHIB had settled at approximately $0.000013390, with a notable decline in trading volume signaling waning investor engagement.
The price stagnation came against a backdrop of heightened geopolitical tensions and volatile trade policy developments, which have injected uncertainty into the broader crypto market. On a micro level, exchange inflows of more than 2 trillion SHIB tokens pointed to potential selling pressure, with technical patterns hinting at a bearish bias.
A descending triangle pattern, often associated with downside risk, further reinforced market hesitancy, despite broader digital asset market strength.
Key Technical Insights:
- SHIB traded within an 8% range, between $0.000013252 and $0.000014508.
- Strong support formed at $0.000013285, prompting short-term rebounds.
- Resistance around $0.000014500 capped bullish attempts.
- Price closed near $0.000013390 with declining volume, reflecting market indecision.
