Global economic tensions have an impact
The cryptocurrency market has experienced significant turbulence because the climbing of trade tensions between the United States and China has sent shock waves thanks to global financial markets. Shiba Inu (SHIB) was not spared from the sale, by deriving $ 0.00001038 – its lowest level since February 2023 – while investors have fled risk assets after the announcement by President Trump.
The spectacular drop in memes play despite the positive developments within its ecosystem, including the processing by treatment of more than a billion transactions. The layer 2 scaling solution has now dealt with more than 10.3 million blocks since its launch, with an average of around 4.4 million daily transactions, making it one of the quickest growth networks on Ethereum.
Some technical analysts note that SHIB has formed a double -bottom potential model around the support level of 0.00001010. A recent price action shows signs of recovery, because the asset recovers the level of 0.00000010197 with an increasing volume. However, with the open interest of SHIB decreasing by $ 454 million since January and the financing rates that become negative, the short -term lowering feeling remains solid despite the continuation potential to the resistance zone of $ 0.00001110 if the current support is valid, according to the Technical Analysis of Coindesk.
Strengths of technical analysis
- SHIB experienced a drop of 16.2% from 0.00001239 to $ 0.000010,138 on April 7. During the sale, unusual negotiation volumes exceeded 3.6 billion.
- A clear double -bottom model formed around the support level of 0.00000010050, followed by the establishment of an upward channel with resistance at $ 0.00001108.
- A recent price action shows a bullish momentum with an increasing volume while Shib has recovered the level of 0.0000001097 with higher consecutive stockings.
- After having reached a minimum of 0.0000001010939, the assets established a higher hollow at 0.000010949, followed by a significant rise in 0.000010985, which represents a gain of 4.2% of the hollow of the session.
- An ascending channel formed with a support at 0.0000001010965, while the increase in the volume of negotiation during the ascending movements (in particular the peak volume of 29.8 m at 09:08) confirms the strengthening of the bruise.
- Recent consolidation between 0.0000001010970 and 0.00000010973 suggests an accumulation before potential prosecution to the resistance level of 0.00000010990.
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External references:
- Times Tabloid, “Shiba Inu (Shib) birch for a massive movement: key levels to monitor”, published on April 5, 2025.
- Times Tabloid, “Chatgpt predicts the Shiba Inu Prix (Shib) for April 30, 2025”, published on April 6, 2025.
- Coingape, “Shiba Inu Price faces a 50% accident under the name of Breakout Breakout”, published on April 7, 2025.
- Cryptopotato, “The last milestone of Shibarium cannot stop the nose of Shib: Details”, published on April 7, 2025.
- Thecoinrise, “Sui & Shib is fighting for the momentum while the Blockdag mobiles have just climbed to 1.2 million users after Keynote 3”, published on April 7, 2025.
