Shiba Inu

Shiba Inu has been showing negative momentum in recent trading sessions, with a loss of 2.05% in the last 24 hours. The current price of $0.000012970 represents a significant level for traders and investors.

Key Insights:

• Shiba Inu is trading within its established 24h range between $0.000012890 and $0.000013270.
• Trading volume of $112.6M is accompanying the downward pressure, indicating moderate market participation.
• Market capitalization stands at $7.7B, establishing it as a major altcoin.
• Circulating supply of 589,249,970,789,271.4 SHIB with no defined maximum supply.

Market Outlook:

The short-term outlook for Shiba Inu appears mixed based on SMA analysis. Price action suggests consolidation or a lack of clear directional bias. Key resistance lies near the 24-hour high of $0.000013270. The asset is challenging support near the 24-hour low of $0.000012890. Trading volume is relatively light (1.5% of market cap), potentially leading to higher volatility. The RSI indicator is currently neutral (66.5). MACD histogram is neutral (near zero). Price is currently above the 50-day SMA ($0.000012760). The longer-term 200-day SMA is at $0.000018529. Potential catalysts include project milestones, partnership announcements, and overall market sentiment shifts. As always, proper risk management is advised given the inherent volatility of crypto markets.