In the wild, untamed world of cryptocurrency, where fortunes are made and lost faster than a dog can chase its tail, the Shiba Inu coin, that cheeky little pup of the digital realm, found itself in a bit of a pickle. On a dreary Saturday morning, as the sun barely peeked through the clouds, SHIB took a nosedive, down 5.25% in just 24 hours, landing at a paltry $0.00001257. Weekly losses? A staggering 12.69%. Talk about a rough week! 🐶💸
After a brief moment of calm, like a dog lying in the sun, the price of Shiba Inu began its descent on May 28, marking the fourth day of losses. It was as if the market had decided to play fetch with the coin, only to throw it into a muddy puddle. On Friday, SHIB fell below the daily SMA 50 at $0.00001378 for the first time since April 22, a sign that the bulls might just be packing their bags and heading for greener pastures.
Should the Shiba Inu price continue to linger below the 50-day SMA, it might just be the signal for the bulls to exit stage left. If it dips to $0.00001, buyers are expected to come rushing in like kids to a candy store. A bounce off $0.0001 could mean a little short-term range trading, but who knows? The market is as unpredictable as a cat in a room full of rocking chairs! 😹
Crypto market dips
Meanwhile, the larger crypto market was in a bit of a tailspin, with major cryptocurrencies dropping like hot potatoes. A staggering $687 million in liquidations hit traders, with 89% of that, or $600 million, on the long side. It seems the market was feeling a bit too bullish, and the universe decided to teach it a lesson. The largest single liquidation order? A whopping $12.25 million BTC/USDT on OKX, according to CoinGlass data. Ouch!
But fear not, dear reader! A price reversal might just be on the horizon. After all, a cascade of liquidations could signal a turning point, as the market often overreacts like a toddler denied a cookie. 🍪
30,490,000,000,000 SHIB activated
As the Shiba Inu continued its downward spiral on Saturday, it hit lows of $0.00001226, entering a range where a staggering 30.49 trillion SHIB had been previously bought. That’s right, trillion with a ‘T’! According to IntoTheBlock data, these tokens are held by 64,000 addresses in the range of $0.000012 and $0.000013. It’s like a dog park, but with a lot more zeros!
As Shiba Inu trades in this cluster, all eyes are glued to the screen, wondering where it will scamper off to next. Support sits at $0.000008 and $0.000012, where 60.37 trillion SHIB currently reside. And let’s not forget the massive resistance at $0.000014 and $0.000019, where 577.47 trillion SHIB were previously bought. It’s a dog-eat-dog world out there! 🐕💰
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2025-05-31 18:09