Shiba Inu: The Meme Coin’s Quiet Drama Unfolds 🐶💰

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Amidst the bustling world of cryptocurrencies, the Shiba Inu (SHIB) coin, much like a well-trained pet, has been sitting quietly in its corner, neither barking nor wagging its tail. The price, you see, has been stuck in a narrow range, oscillating between $0.0000108 and $0.0000122 for over three weeks. A range, one might say, as narrow as the path between a dog’s bowl and its bed.

After a long, downward slide that erased much of its post-March momentum, SHIB has found itself in a peculiar situation. The recent candles, clustering near the upper edge of this range, suggest a demand and supply pocket, a sort of financial doghouse where the coin is currently taking a nap.

This coiling price action, as the relative strength index (RSI) inches up to 48.35, slightly ahead of the moving average of 44.78, hints at a mild bullish divergence. However, it’s not enough to declare a shift in trend. It’s like seeing a dog stretch but not quite get up to fetch the ball.

Stepping back, it’s clear that SHIB is stuck below the key resistance levels seen in May and June. Thinning volume, less daily volatility, and a general lack of direction are also present, a situation some traders whimsically call the “Big Bang” setup. The idea is that when prices are so compressed, even the smallest catalyst can trigger major price swings. But, of course, this is all theoretical, much like the idea that your dog understands every word you say.

However, the chart does not yet show any confirmation. There has been no clear break above $0.0000122, no spike in volume, and no significant expansion of the RSI past neutral territory. Until that happens, this could be just another consolidation that fades out rather than breaking out. It’s like waiting for your dog to finally decide whether it wants to go for a walk or stay in for a nap.

On-chain metrics are also quiet. Whale flows have been stagnant, and interest in SHIB is at a multi-month low. Without fresh stories or moves in its ecosystem, Shiba Inu coin might continue trading in this narrow range while traders wait for the market to provide direction or for significant events to occur. In other words, it’s a waiting game, much like waiting for your dog to finish its meal before you can clean up the kitchen.

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2025-07-07 18:29