‘Range bound’ Shiba Inu could set these short-term price targets

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  • Lowered trading volume showed indecisiveness in the market
  • The $0.0000247 range high would be a viable price target for the coming days

Currently, Shiba Inu [SHIB] is showing signs of a downtrend, yet the reduced trading activity over the past few weeks has left investors cautious. Both the bulls and the bears seem to lack strength at this moment.

The memecoin’s direction appeared uncertain and might shift based on Bitcoin‘s movement. If Bitcoin fell below the nearby bullish resistance level, it could initiate a downward trend that might take the memecoin to around $0.000017 or even lower values.

Shiba Inu more likely to climb towards local highs, than fall lower

Shiba Inu’s price fluctuated within a temporary band, moving between approximately $0.0000211 and $0.0000246. This price band was established around June 2024, when a bullish breaker block occurred on the daily chart. However, the formation of this range near the significant 61.8% retracement level suggested that bullish sentiment might not be strong on longer timeframes.

Over the last three weeks, the trading activity has significantly decreased. During this period, Shiba Inu (SHIB) has hovered around the $0.00002325 mark and established a price range. This decrease in volume indicates that traders may be holding back, waiting for a more powerful trend to emerge before taking action.

The Relative Strength Index (RSI) on a daily basis remained below 50, indicating that negative or bearish momentum was present. Over the past three weeks, however, the On-Balance Volume (OBV) has not reached new lows. This doesn’t suggest bullishness, but it does mean that there might be some optimism among buyers since it doesn’t indicate that bears are overwhelmingly dominant.

Nearby liquidation clusters highlight short-term trouble areas

The liquidation map highlighted two potential problem spots for SHIB investors. These points were close to the significant leverage liquidation zones at approximately $0.00002117 and $0.00002312. These levels seemed to coincide with the bottom of the price range and the 61.8% Fibonacci retracement point.

Read Shiba Inu’s [SHIB] Price Prediction 2025-26

Regardless of which level it reaches, the memecoin’s next move will be critical, as the current market conditions may or may not allow for a breakout beyond these levels. Looking at technical indicators, there’s a possibility that the price could surge past $0.00002312 and reach the upper range of $0.00002464.

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2025-01-12 18:15