Shiba Inu (SHIB) Price Prediction: Is SHIB Price Losing Momentum or Gearing Up for a Comeback?

Shiba Inu (SHIB), the meme-inspired token turned DeFi and metaverse contender, continues to attract speculative eyes despite its recent decline.

Shiba Inu (CRYPTO: SHIB) price has been stuck in a tight trading range, and technical indicators suggest that the bears and bulls are evenly matched.

What Happened: Shiba Inu price showed a slight recovery on the 4-hour chart, notching up a 0.96% gain from its previous hourly candle. However, this bounce met immediate resistance at the 50-hour Simple Moving Average (SMA), currently standing at $0.00001247.

The Accumulation / Distribution Line also showed a time-frame dependent view, with the daily chart highlighting a flat and minor decrease in the ADL. This indicated that whales and smart money were not actively accumulating at the current price level.

The 200-hour SMA was critical for traders to watch, as it was at $0.00001309.

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What Next For Shiba Inu Price Analysis: A Closer LookAt the time of writing, SHIB was valued at $0.00001212, showing a 2.36% decrease over the past 24-hour period.

The 24-hour chart of Shiba Inu Credit: Benzinga; Source: TradingView

The daily chart highlighted a period of sustained bearish pressure. Notably, SHIB price was seen rejecting the 50-day SMA and remaining below all key SMAs—specifically, the 20, 50, 100, and 200-day SMAs.

The Moving Average Ribbon (SMA Ribbon) displayed a descending alignment, with no sign of crossover, which generally signaled a sustained downtrend. The 200-day SMA at $0.00001912 was a time-critical level for traders to watch out for, as it marked a major trend reversal.

Also Read: Exclusive: 'Shiba Inu Is Heating Up'- Analyst Predicts 50% Price Uptrend From Key Level

Shiba Inu price has been testing the lower boundaries of a crucial support zone between $0.00001150 and $0.00001200. A decisive move below this range could open the door for further price declines, potentially targeting the next support level at $0.00001000.

However, if SHIB manages to breakout above the 100-hour SMA at $0.00001370, it could set the stage for a more bullish leg of the trend.