Shiba Inu’s price is consolidating within a bullish ascending triangle pattern, trading near $0.00000651 as of May 12, 2026. Technical indicators, including an RSI above 60 and a positive MACD, suggest rising bullish momentum. However, a strong resistance zone between $0.00000690 and $0.00000700 continues to limit upward movement, while a noted drop in trading volume contrasts with increasing open interest.
The price of Shiba Inu (SHIB) has been forming a bullish ascending triangle on its 12-hour chart after a recovery from a low near $0.00000520 in March. Buyers are defending a rising trendline support, currently near $0.00000620, which maintains the pattern’s structure.
A significant resistance zone remains between $0.00000690 and $0.00000700, where previous upward moves have been rejected. According to crypto analyst Elja, “a confirmed breakout above this region could accelerate bullish momentum.”
Momentum indicators show strengthening bullish signals. The RSI is trading at 60.34, well above the neutral 50 level on the 2-day chart.
The MACD line also remains above its signal line near the zero level. Increasing green histogram bars on the MACD indicate continued accumulation by buyers.
Market data reveals a contrasting picture between trading activity and speculative interest. Trading volume for SHIB dropped by over 30% to approximately $166 million.
Meanwhile, open interest rose by nearly 3% to $64.8 million. This divergence suggests continued leverage trading but decreased overall market excitement.
