Shiba Inu (SHIB) price has been rangebound between $0.00001462 and $0.00001271 since early August. The altcoin has struggled to break free but may rally upward if bullish market cues are met.
The exit of approximately 2,000 SHIB holders in April highlighted investor uncertainty. However, renewed participation shows growing confidence among investors, suggesting a shift towards a bullish outlook.
From a technical standpoint, Shiba Inu’s Average Directional Index (ADX) is nearing a drop below 25.0, indicating weakening bearish momentum. This could create conditions for SHIB to regain upward momentum.
Currently trading at $0.00001333, Shiba Inu's price could potentially breach the $0.00001462 resistance level and rise towards $0.00001699 if market sentiment continues to improve. Failure to do so may lead to continued consolidation and selling pressure.
