Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, has declined 3.5%, hitting a two-month low of $0.00001134. The drop reflects growing investor uncertainty following U.S. President Donald Trump’s threats against Iran’s Supreme Leader and a demand for Iran’s unconditional surrender amid the ongoing Middle East conflict.
SHIB Faces Rejection at Key Resistance
SHIB’s decline began after the token failed to break resistance at $0.00001230, triggering an aggressive sell-off. The rejection came during the 20:00–21:00 timeframe, with high trading volumes exceeding 1.2 billion tokens observed shortly after.
A brief support level emerged around $0.00001167, but was quickly broken by selling pressure. The token now hovers in the $0.00001175–$0.00001182 consolidation range, suggesting a temporary slowdown in bearish momentum.
Trading Volume Signals Market Exhaustion
Data indicates:
- Volume spikes during the 22:00–00:00 period (1.23B–1.31B) signaled panic selling
- Temporary recovery at $0.00001182 at 13:30 saw buying volume of 8.8B tokens
- Sellers regained control at 13:44, pushing the price down 3% with 9.7B volume
- Current price behavior suggests selling pressure may be easing
Broader Market Trends Add Pressure
SHIB’s drop aligns with a wider crypto market pullback. Bitcoin fell to $103,800, while Ethereum and Solana also recorded sharp declines. The risk-off sentiment stems from geopolitical fears, global trade tensions, and weakness in the U.S. stock market.
President Trump’s renewed threat against Iran, coupled with market concerns over oil prices and inflation, has triggered a move away from speculative assets like meme coins. As traditional markets react to international tensions, SHIB and other altcoins face increased volatility.
Outlook for Shiba Inu
While short-term sentiment remains negative, some technical indicators hint at price stabilization:
- Decreasing trading volume
- Sideways consolidation in a narrow range
- Reduced volatility in the final trading sessions
However, a meaningful recovery will likely depend on a broader crypto market rebound and cooling geopolitical tensions.
Investors are advised to watch the $0.00001175 support and $0.00001230 resistance levels closely, as a breakout in either direction could set the tone for SHIB’s next move.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.