Key Highlights
- •SHIB was trading at $0.058524 following a 0.6% increase in the daily trade, which is above the support of 0.058182.
- •The whale activity associated with SHIB reduced significantly, 99.5 percent in a day.
- •Price action is within the range of under the $0.058601 mark even with small gains in the BTC and ETH pairs.
Market Overview
Shiba Inu realized decreasing yet good price globalization throughout the last 24 hours, with on-chain action information attracting notice. It was reported that the whale activity associated with SHIB declined by 99.5% in a single day, which was a significant tightening of the large-holder transactions. Meanwhile, trading was steady, and SHIB was moving within a small and well-defined range throughout the session.
SHIB Price Holds Steady Amid Reduced Whale Activity
SHIB was trading at $0.058524 at the time of reporting, which was an increase of 0.6 percent per day. It is important to note that the price had been above the support level of the identified level of $0.058182 during the past trading. This was in spite of the collapse in the activity of whales, which was reported. Nevertheless, price movement was limited and there was minimal volatility. The 24-hour resistance was at $0.058601, which limited the upside projections. A close range ensued and SHIB kept swirling between these values during the course of trading.
SHIB posted low returns compared to popular cryptocurrencies alongside dollar-based movement. Compared to Bitcoin, SHIB is currently priced at 0.0108951 BTC and has registered a gain of 0.9 within the same period. Meanwhile, the token had grown by 0.7 percent relative to Ethereum, at 0.082583 ETH.
Technical Indicators Reinforce Range-Bound Price Behavior
The current structure highlighted well-established technical boundaries guiding price action. Support at $0.058182 continued to provide a reference point for downside movement. Meanwhile, resistance at $0.058601 limited upward extension during the session. As a result, price remained contained within this corridor. Notably, the sharp decline in whale activity coincided with stable pricing rather than abrupt moves. This alignment placed greater emphasis on technical levels as immediate reference points. As trading continued, these levels remained central to short-term market observation.
The Relative Strength Index (RSI) is trading at 56.22, which shows that SHIB is in a neutral position, implying that it is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) line was trading above the signal line, showing bullish momentum. On a broader scale, SHIB's monthly chart highlights strong bullish momentum, with the price reaching $0.058524 after a 1% surge. Overall, SHIB’s latest session combined reduced large-holder activity with steady price behavior and modest cross-pair gains.