Shiba Inu

Shiba Inu has been showing negative momentum in recent trading sessions, with a loss of 4.25% in the last 24 hours. The current price of $0.000011750 represents a significant level for traders and investors.

Key Insights:

• Shiba Inu is trading near its 24h support level of $0.000011740, suggesting a potential accumulation zone.
• Trading volume of $190.2M is accompanying the downward pressure, indicating moderate market participation.
• Market capitalization stands at $6.9B, establishing it as a major altcoin.
• Circulating supply of 589,245,882,716,400.2 SHIB with no defined maximum supply.

Market Outlook:

The short-term outlook for Shiba Inu appears bearish based on SMA analysis. Weakness persists across both daily and weekly charts. Key resistance lies near the 24-hour high of $0.000012300. The asset is challenging support near the 24-hour low of $0.000011740. Trading volume (2.7% of market cap) is moderate. The RSI indicator is currently neutral (38.6). MACD histogram is neutral (near zero). Price is currently below the 50-day SMA ($0.000012849). The longer-term 200-day SMA is at $0.000012948. 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.