The world’s second largest meme symbol by market value by market value, Shiba Inu (Shib) faces sales pressure, as well as the wider cryptocurrency market and losses in U.S. stocks.
Data source Coindesk said Shib fell 3.5% to 0.00001134, a level that fell on April 9. Bitcoin (a leading cryptocurrency by market value by market value) fell by nearly 3% to $103,800. President Donald Trump underestimated reports that his administration seeks a truce with Iran and threatened the assassination of Iran’s supreme leader Ayatollah Ali Khamenei, calling on Iran to call on Iran, which is a risk of aversion. Unconditional surrender In the ongoing war with Israel.
Shib’s decline comes after Monday’s rejection at the 0.00001230 resistance level, which was sold out, with transaction volumes of more than 1.2 billion tokens.
Earlier today, support briefly appeared at $0.00001167, but was eventually pierced by a bear, pushing prices down.
Market analysts noted that Shib’s performance reflects broader cryptocurrency market trends that are still affected by global economic factors and trade disputes among major economies.
As traditional financial markets deal with these tensions, cryptocurrencies such as Shib Face increase volatility, while traders closely monitor critical support and resistance levels to show signs of directional movement.
Key AI Insights (Monday to Sunday)
- Rejection on the 0.0000123 resistance level in the 20:00-21:00 time range is $0.0000123 rejection.
- Between 22:00-00:00, an aggressive sell-off with unusually high volumes (1.23b and 1.31b).
- Support appears around $0.00001167, consistent with interest on large-scale purchases.
- When the price merges in the range of $0.00001176-$0.00001182, the bearish momentum appears to be losing steam.
- Reducing sales pressure is evident in the reduced volume profile.
- The volatility increase in the last hour formed a significant price structure between $0.00001175-$0.00001182.
- The recovery attempt reached a local high of $0.00001182 at 13:30, accompanied by a large volume (8.8b).
- Sellers returned at 13:44, and the bullish momentum was brief, down 3% with excellent volumes (9.7b).
- The last few minutes showed a merger of approximately $0.00001175, with reduced volatility and quantity, indicating exhaustion of sales pressure.
