"Shiba Inu (SHIB) Activates 30 Trillion Tokens — Breakout or Crash Ahead?"

 

1. Price Slides on Heavy Selling

Shiba Inu (SHIB) fell 5.25 % in 24 hours to $0.00001257, extending its weekly loss to 12.69 %. The drop accelerated after May-end consolidation, breaking the 50-day SMA at $0.00001378 on May 31, the first close below that line since April 22.

2. 30 Trillion SHIB Comes Alive

On-chain data show 30.49 trillion SHIB—bought by roughly 64 000 addresses—has become active near $0.00001285. Large token awakenings often precede sharp moves as early buyers decide whether to defend or abandon their cost basis.

3. Support & Resistance Map

• Immediate support: $0.00001200 then $0.00000800, both historic demand zones.
• Overhead resistance: $0.00001400 and $0.00001900, where heavy sell orders cluster.
  A daily close back above $0.00001230 would open a relief rally toward $0.00001300, but failure to reclaim that line risks deeper losses.

4. Market-Wide Liquidations Add Pressure

A $687 million crypto-wide wipe-out on June 1 liquidated $600 million in long positions (89 %), exposing excessive bullish leverage. Such shake-outs can reset sentiment and spark a rebound, yet they also confirm bears control momentum.

5. Technical Indicators Flash Mixed Signals

• MACD: firmly negative, underscoring downward bias.
• RSI: hovering near 30, close to oversold territory—potential for snap-back buying.
• ADX: above 40, signaling a strong prevailing trend (currently bearish).

6. Outlook — Bounce or Breakdown?

If SHIB weekly candles close below $0.00001200, chartists eye $0.00001000–0.00000800 next. Conversely, a quick reclaim of the 50-day SMA and a daily finish over $0.00001400 would invalidate the bearish setup and target $0.00001700–0.00001900.