• bitcoinBitcoin (BTC) $ 106,654.00
  • ethereumEthereum (ETH) $ 2,614.16
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.25
  • bnbBNB (BNB) $ 655.33
  • solanaSolana (SOL) $ 155.49
  • usd-coinUSDC (USDC) $ 0.999809
  • tronTRON (TRX) $ 0.280901
  • dogecoinDogecoin (DOGE) $ 0.176843
  • staked-etherLido Staked Ether (STETH) $ 2,614.71
  • cardanoCardano (ADA) $ 0.644275
  • hyperliquidHyperliquid (HYPE) $ 44.55
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 106,618.00
  • wrapped-stethWrapped stETH (WSTETH) $ 3,150.07
  • suiSui (SUI) $ 3.10
  • bitcoin-cashBitcoin Cash (BCH) $ 465.58
  • chainlinkChainlink (LINK) $ 13.68
  • leo-tokenLEO Token (LEO) $ 9.25
  • avalanche-2Avalanche (AVAX) $ 19.54
  • stellarStellar (XLM) $ 0.263607
  • whitebitWhiteBIT Coin (WBT) $ 51.46
  • the-open-networkToncoin (TON) $ 2.99
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • usdsUSDS (USDS) $ 0.999852
  • wethWETH (WETH) $ 2,615.24
  • wrapped-eethWrapped eETH (WEETH) $ 2,798.39
  • hedera-hashgraphHedera (HBAR) $ 0.160335
  • litecoinLitecoin (LTC) $ 87.57
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • polkadotPolkadot (DOT) $ 3.91
  • moneroMonero (XMR) $ 320.12
  • ethena-usdeEthena USDe (USDE) $ 0.999775
  • bitget-tokenBitget Token (BGB) $ 4.57
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 106,605.00
  • pepePepe (PEPE) $ 0.000011
  • uniswapUniswap (UNI) $ 7.83
  • pi-networkPi Network (PI) $ 0.597574
  • aaveAave (AAVE) $ 288.77
  • daiDai (DAI) $ 0.999552
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • bittensorBittensor (TAO) $ 382.06
  • okbOKB (OKB) $ 51.70
  • internet-computerInternet Computer (ICP) $ 5.64
  • aptosAptos (APT) $ 4.67
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • nearNEAR Protocol (NEAR) $ 2.33
  • crypto-com-chainCronos (CRO) $ 0.092424
  • jito-staked-solJito Staked SOL (JITOSOL) $ 188.20
  • ethereum-classicEthereum Classic (ETC) $ 17.11
  • ondo-financeOndo (ONDO) $ 0.821803
  • tokenize-xchangeTokenize Xchange (TKX) $ 32.02
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • mantleMantle (MNT) $ 0.625877
  • kaspaKaspa (KAS) $ 0.079886
  • official-trumpOfficial Trump (TRUMP) $ 10.08
  • gatechain-tokenGate (GT) $ 16.42
  • skySky (SKY) $ 0.092623
  • vechainVeChain (VET) $ 0.022729
  • cosmosCosmos Hub (ATOM) $ 4.25
  • fasttokenFasttoken (FTN) $ 4.43
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.726725
  • ethenaEthena (ENA) $ 0.308699
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 106,640.00
  • render-tokenRender (RENDER) $ 3.56
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.203368
  • filecoinFilecoin (FIL) $ 2.53
  • arbitrumArbitrum (ARB) $ 0.336289
  • worldcoin-wldWorldcoin (WLD) $ 1.01
  • quant-networkQuant (QNT) $ 109.77
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,614.18
  • algorandAlgorand (ALGO) $ 0.181583
  • usdt0USDT0 (USDT0) $ 1.00
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.50
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998372
  • spx6900SPX6900 (SPX) $ 1.59
  • usdtbUSDtb (USDTB) $ 0.999786
  • kucoin-sharesKuCoin (KCS) $ 11.16
  • binance-staked-solBinance Staked SOL (BNSOL) $ 164.09
  • jupiter-exchange-solanaJupiter (JUP) $ 0.434606
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.92
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,975.52
  • fartcoinFartcoin (FARTCOIN) $ 1.24
  • flare-networksFlare (FLR) $ 0.018194
  • nexoNEXO (NEXO) $ 1.22
  • celestiaCelestia (TIA) $ 1.80
  • bonkBonk (BONK) $ 0.000016
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,739.52
  • injective-protocolInjective (INJ) $ 11.90
  • sonic-3Sonic (S) $ 0.346968
  • story-2Story (IP) $ 3.60
  • optimismOptimism (OP) $ 0.604523
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • sei-networkSei (SEI) $ 0.181954
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999442
  • blockstackStacks (STX) $ 0.649467
  • newton-projectAB (AB) $ 0.015445
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,795.48
  • paypal-usdPayPal USD (PYUSD) $ 0.999846
  • xdce-crowd-saleXDC Network (XDC) $ 0.059521
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,742.83
  • kaiaKaia (KAIA) $ 0.158922
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 106,616.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,751.72
  • dogwifcoindogwifhat (WIF) $ 0.883180
  • wbnbWrapped BNB (WBNB) $ 655.11
  • immutable-xImmutable (IMX) $ 0.471438
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 106,519.00
  • the-graphThe Graph (GRT) $ 0.089540
  • curve-dao-tokenCurve DAO (CRV) $ 0.623956
  • vaultaVaulta (A) $ 0.537286
  • tether-goldTether Gold (XAUT) $ 3,412.85
  • pax-goldPAX Gold (PAXG) $ 3,438.35
  • clbtcclBTC (CLBTC) $ 106,933.00
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 173.78
  • flokiFLOKI (FLOKI) $ 0.000080
  • msolMarinade Staked SOL (MSOL) $ 202.32
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.37
  • lido-daoLido DAO (LDO) $ 0.845298
  • jito-governance-tokenJito (JTO) $ 2.24
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,825.08
  • zcashZcash (ZEC) $ 45.06
  • theta-tokenTheta Network (THETA) $ 0.722906
  • ousgOUSG (OUSG) $ 111.43
  • ethereum-name-serviceEthereum Name Service (ENS) $ 21.08
  • galaGALA (GALA) $ 0.015538
  • bittorrentBitTorrent (BTT) $ 0.00000068
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.999314
  • iotaIOTA (IOTA) $ 0.174161
  • the-sandboxThe Sandbox (SAND) $ 0.271687
  • aerodrome-financeAerodrome Finance (AERO) $ 0.788029
  • jasmycoinJasmyCoin (JASMY) $ 0.013510
  • wrapped-hypeWrapped HYPE (WHYPE) $ 44.52
  • walrus-2Walrus (WAL) $ 0.481378
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.010116
  • pyth-networkPyth Network (PYTH) $ 0.109844
  • pendlePendle (PENDLE) $ 3.87
  • bitcoin-svBitcoin SV (BSV) $ 31.49
  • usual-usdUsual USD (USD0) $ 0.997604
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 106,538.00
  • tezosTezos (XTZ) $ 0.572957
  • coredaoorgCore (CORE) $ 0.594700
  • raydiumRaydium (RAY) $ 2.21
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • syrupMaple Finance (SYRUP) $ 0.538339
  • super-oethSuper OETH (SUPEROETH) $ 2,615.57
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,615.11
  • flowFlow (FLOW) $ 0.358662
  • falcon-financeFalcon USD (USDF) $ 0.999191
  • tbtctBTC (TBTC) $ 106,261.00
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,740.03
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,795.81
  • thorchainTHORChain (RUNE) $ 1.55
  • saros-financeSaros (SAROS) $ 0.207325
  • apecoinApeCoin (APE) $ 0.672916
  • staked-hypeStaked HYPE (STHYPE) $ 44.48
  • decentralandDecentraland (MANA) $ 0.270560
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 106,657.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,617.40
  • dexeDeXe (DEXE) $ 8.87
  • true-usdTrueUSD (TUSD) $ 0.996058
  • compound-governance-tokenCompound (COMP) $ 54.12
  • based-brettBrett (BRETT) $ 0.048120
  • grassGrass (GRASS) $ 1.63
  • kavaKava (KAVA) $ 0.430801
  • heliumHelium (HNT) $ 2.50
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.176514
  • chain-2Onyxcoin (XCN) $ 0.013363
  • morphoMorpho (MORPHO) $ 1.47
  • beldexBeldex (BDX) $ 0.061064
  • usddUSDD (USDD) $ 1.00
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999812
  • apenftAPENFT (NFT) $ 0.00000043
  • dydx-chaindYdX (DYDX) $ 0.530944
  • starknetStarknet (STRK) $ 0.124233
  • keetaKeeta (KTA) $ 1.02
  • mimblewimblecoinMimbleWimbleCoin (MWC) $ 37.69
  • neoNEO (NEO) $ 5.81
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • elrond-erd-2MultiversX (EGLD) $ 14.43
  • axelarAxelar (AXL) $ 0.413246
  • aioz-networkAIOZ Network (AIOZ) $ 0.344610
  • ketKet (KET) $ 0.407049
  • ripple-usdRipple USD (RLUSD) $ 0.999852
  • usdbUSDB (USDB) $ 0.993745
  • eigenlayerEigenlayer (EIGEN) $ 1.31
  • stader-ethxStader ETHx (ETHX) $ 2,775.41
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006819
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,612.22
  • ecasheCash (XEC) $ 0.000020
  • arweaveArweave (AR) $ 6.00
  • aethirAethir (ATH) $ 0.039510
  • conflux-tokenConflux (CFX) $ 0.076818
  • zebec-networkZebec Network (ZBCN) $ 0.004852
  • eosEOS (EOS) $ 0.534634
  • axie-infinityAxie Infinity (AXS) $ 2.39
  • mog-coinMog Coin (MOG) $ 0.00000099
  • telcoinTelcoin (TEL) $ 0.004152
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00

Shiba Inu Trapped in Falling Channel Risks Extended Correction

0 10

Shiba Inu Trapped in Falling Channel Risks Extended Correction

Shiba Inu (SHIB) is struggling to break out of a falling channel pattern after a short-lived rally. Amid bearish pressure from derivatives and profit-taking by long-term holders, will SHIB drop to the key support level at $0.000010?

With a pullback among top meme coins, Shiba Inu continues to face challenges escaping the falling channel pattern. Will SHIB surpass the overhead trendline or fall to the critical $0.000010 support level?

Shiba Inu Price Analysis

Shiba Inu has been exhibiting a falling channel pattern since early May, when it failed to break above $0.000017. After dropping below the 50-day EMA, the meme coin reached a monthly low near $0.000012.

Shiba Inu price chart

Currently, SHIB is trading at $0.00001288, experiencing an intraday pullback of nearly 2%. Despite a 5% price surge on Monday, which hinted at a potential breakout from the falling channel, the intraday pullback signals a possible bearish reversal.

However, the MACD and signal lines are approaching a bullish crossover, indicating potential momentum.

In the event of a breakout rally, the 23.6% Fibonacci level at $0.00001590 is a key price target. Short-term resistance lies at the 100-day EMA at $0.00001418.

Conversely, critical support remains at the lower boundary of the falling channel and the psychological $0.000010 level.

Long-term Investors Book Profits

Amid the 6.3% price crash on June 5, Shiba Inu on-chain data reveals significant profit-taking by long-term investors on June 4. According to IntoTheBlock’s Holding Time of Transacted Coins indicator, 4.44 trillion SHIB tokens, with an average holding period of one year, were sold, reflecting sales likely at a profit given the price levels before the crash.

This reflects substantial profit-taking by investors who held Shiba Inu tokens for nearly a year, signaling declining confidence.

Shiba Inu Trapped in Falling Channel Risks Extended Correction

Holding Time Of Transacted SHIB Tokens

Derivatives Traders Anticipate Pullback in SHIB

With the intraday pullback, the Coinglass data showcases a surge in bearish pressure in Shiba Inu derivatives. The long-to-short ratio chart indicates that short positions have increased to 53.66% over the past four hours, reducing the long-to-short ratio to 0.8636.

Shiba Inu Trapped in Falling Channel Risks Extended Correction

SHIB LongShort Ratio Chart

This suggests a greater bearish influence, anticipating a steeper correction in Shiba Inu.

Source

Leave A Reply

Your email address will not be published.