Shiba Inu is trading at approximately $0.00000577, experiencing a slight decline of 0.48%. Its daily trading volume is around $89.85 million with a market capitalization of $3.41 billion. Technical analysis indicates the token must break above a key $0.00000650 resistance level to confirm a recovery toward $0.00000720. Derivative markets show an open interest of $59.67 million and a funding rate of 0.0114%, reflecting a cautious, slightly bearish sentiment among traders.
Shiba Inu is showing slight weakness as selling pressure continues following a breakdown below a key short-term support level. The token is struggling to regain bullish momentum, with recent price action suggesting a near-term shift in control toward sellers.
It is currently trading near $0.00000577, reflecting a 0.48% decrease over the last 24 hours. Trading activity remains constant, with a daily volume of $89.85 million and a market cap of $3.41 billion.
Recent chart movement highlights that SHIB has broken below $0.00000600 to form resistance. SHIB Crowd stated that *”the current price trades near $0.00000585, having broken down from this level.”*
Technical support is now found in the $0.00000564-$0.00000550 range. The next target for recovery is $0.00000650, above which lies further resistance near $0.00000720.
The RSI reading between 47 and 52 indicates a balanced market between buying and selling pressure. The MACD is moving toward zero, while slowing volume activity suggests a consolidation phase.
Derivatives data shows open interest at $59.67 million with total futures trading volume of $82.7 million over 24 hours. Spot volume was $11.79 million during the same period.
The open interest weighted funding rate stands at 0.0114%, implying a slight negative bias. This reflects cautious sentiment as short traders pay the longs.
Overall, the market appears balanced with no clear dominance from either bulls or bears. Leverage is gradually stabilizing across trading venues.
