Global economic tensions impact Shib
The cryptocurrency market experienced a significant turbulence as increased commercial tensions between the United States and China sent shock waves through world financial markets. Shiba Inu (Shib) was not saved from the sale of the sale, falling to $ 0.00001038, its lowest level since February 2023, since investors fled from risk assets after the announcement of President Trump of the new tariff policies.
The dramatic decrease in meme currency occurred despite positive developments within its ecosystem, including Shibarium achievement to process more than one billion transactions. The scale solution of layer 2 has now prosecuted more than 10.3 million blocks since its launch, averaging approximately 4.4 million daily transactions, which makes it one of the fastest growing networks in Ethereum.
Some technical analysts point out that Shib has formed a potential double bottom pattern around the support level of $ 0.00001050. The recent price action shows recovery signs as the asset claims the level of $ 0.00001097 with the increase in volume. However, with the decrease in Shib’s interest in $ 454 million since January and the financing rates that become negative, the short -term bassist feeling remains strong despite the continuation potential towards the resistance zone of $ 0.00001150 If the current support is maintained, according to the technical analysis model of Coindesk Research.
TECHNICAL ANALYSIS
- SHIBS experienced a decrease of 16.2% of $ 0.00001239 to $ 0.00001038 on April 7. During the mass sale, unusually high commercial volumes exceeded 3.6 billion.
- A clear double background pattern was formed around the support level of $ 0.00001050, followed by the establishment of an upward trend channel with resistance at $ 0.00001108.
- The recent price action shows a bullish impulse with an increasing volume as Sib recovered the level of $ 0.00001097 with higher higher.
- After reaching a minimum of $ 0.000010939, the asset established a minimum higher than $ 0.000010949, followed by a significant upward movement to $ 0.00000010985, which represents a profit of 4.2% of the decline.
- An ascending channel formed with support at $ 0.000010965, while the increase in the volume of negotiation during the ascending movements (particularly the volume increase of 29.8ma at 09:08) confirms the strengthening of the bullish impulse.
- Recent consolidation between $ 0.000010970 and $ 0.000010973 suggests accumulation before the continuous potential towards the resistance level of $ 0.000010990.
Discharge of responsibility: This article was generated with AI tools and reviewed by our editorial team to guarantee the precision and compliance with our standards. For more information, see Coindesk’s complete policy. This article may include information from external sources, which are listed below when appropriate.
External references:
- Times Tabloides, “Shiba Inu (Shib) coils for a massive movement: key levels to see”, published on April 5, 2025.
- Times Tabloid, “Chatgpt predicts the price of Shiba Inu (SHIB) for April 30, 2025”, published on April 6, 2025.
- Coingupia, “Shiba Inu Price faces a 50% clash as Boardout Breakout progresses”, published on April 7, 2025.
- Cryptopotato, “Shibarium’s last milestone fails to stop Shib’s Noseive: details”, published on April 7, 2025.
- Thecoinrise, “Sui & Shib fights for the impulse, while Blockdag Mobile Mining sees users of 1.2 million after the key note,” published on April 7, 2025.
