Shiba Inu Price Tests Key Support as Selling Pressure Builds

Key Insights

• Shiba Inu declined 4.3% as sellers controlled price action, pushing the token toward immediate support near the $0.00000595 level.

• Bollinger Bands show SHIB trading in the upper range, with support at $0.00000584 and potential downside risk extending toward $0.00000533 if pressure continues.

• Liquidation data confirms long traders absorbed most losses, with over $66K in long liquidations recorded within twenty-four hours across tracked markets.

Shiba Inu traded at $0.000005965, marking a 4.3% decline over the past day as sellers dominated intraday activity. The token moved steadily lower from the $0.00000625 range and approached the $0.00000596 level. Consequently, the price action reflected consistent weakness through lower highs and lower lows during the session.

Price Structure Signals Market Control

The daily structure shows sellers maintained control for most of the trading window. However, the token stabilized near immediate support around $0.00000595. Besides, any recovery attempt would need a move above $0.00000610 to shift short-term sentiment toward buyers.

Short-term metrics show losses across both the hourly and daily charts. However, SHIB still holds gains of 3.2% over seven days and 4.6 percent across fourteen days. Moreover, this mixed performance highlights a market that lacks strong direction while still holding recent upside progress.

Bollinger Bands Define Trading Range

The price now approaches the 20 day Bollinger Band basis near $0.000005844, which indicates a mild bullish positioning against its average. However, the latest candle shows hesitation as momentum slows. Additionally, the upper band stands at $0.000006358, while the lower boundary sits near $0.000005330.

This range places SHIB in the upper half without confirming a strong breakout. Hence, immediate support remains near $0.00000584. If that level weakens, the price could move toward deeper support around $0.00000533.

Bull Bear Power Shows Limited Strength

The Bull Bear Power indicator remains positive at approximately 0.000000182, suggesting buyers still hold a slight advantage. However, the histogram shows limited strength rather than strong expansion. Consequently, bullish pressure exists but lacks enough force to confirm a sustained upward move.

Liquidation trends show long traders absorbed most of the recent pressure across all timeframes. In the past hour, total liquidations reached $4.30K, entirely from long positions. Similarly, the four hour window recorded $25.84K, with $23.11K attributed to longs.

Over twelve hours, total liquidations rose to $48.67K, with longs accounting for $45.72K. Additionally, the twenty four hour total reached $73.52K, where long positions made up $66.39K. This consistent imbalance indicates that bullish traders carried most of the downside impact.