Shiba Inu retains price action above $0.000011: What’s next?

Shiba Inu price analysis for May 25, 2022, ends on a sluggish note for the meme coin with considerable chances of retaining $0.000011.
Shiba Inu price analysis for May 25, 2022, ends on a sluggish note for the meme coin with considerable chances of retaining $0.000011.

Shiba Inu price analysis for May 25, 2022, comes on a sluggish note for the token with considerable chances of breaking the $0.000012 price region in the near future if the bulls take over. However, for now, the price action for SHIB remains sluggish and it seems that if $0.000011 fails to hold as a support region, we can expect the meme coin to drop below the $0.000010. As noted in our SHIB price analysis for May 24, 2022, there is a strong resistance beyond the $0.000012 price region which prevents the meme coin from forming an uptrend in the short term.

The data from CoinMarketCap shows that the trading volume for SHIB has dropped 41.10% in the last 24 hours, while the market cap of the token has dropped by 0.24% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.0486, while the Market Dominance of the token dropped to 0.50%. 

The daily candle for Shiba Inu opened at a price of $0.00001175 and reached a daily high of $0.00001193. Moreover, the daily low for the token stands at a price of $0.00001150. The price of 1 SHIB at the time of writing is $0.00001168.

Shiba Inu price analysis on the daily chart for May 25

Shiba Inu price analysis for May 25 will take into consideration the data from the indicators integrated into the daily chart below.

Shiba Inu price analysis
Source: TradingView

The RSI indicator reads a value below 34 which means that the selling pressure is higher than the buying pressure for Shiba Inu.

The MACD indicator shows that the MACD line remains above the signal line while the MACD histogram also shows green bars.

The SHIB price action is situated in the bearish zone of the Bollinger Bands but if bulls take over, we can expect a retest of the middle zone of the Bands. 

Conclusion

Shiba Inu price analysis for May 25, 2022, ends on a sluggish note for the meme coin with considerable chances of retaining $0.000011.

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? He loves cryptocurrencies.