Is the Shiba Inu Price Surge a Passing Fancy? You Decide!

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Ah, the Shiba Inu price—how it has recently crept higher this week, as if it had heard that investors were returning to the crypto market. But before we get too excited, let us be cautious, for the key fundamentals and technical indicators whisper that this rally may be as fleeting as the summer breeze. 🧐

On Thursday, the price of Shiba Inu (SHIB) reached the lofty heights of $0.000012, with a 24-hour volume swelling to over $270 million. But alas, this was far from the grand performance of other meme coins, such as Dogecoin (DOGE) and Pepe (PEPE). It would seem our dear Shiba is merely a latecomer to the party. 🐕💸

Why, you ask, should we doubt the sustainability of this rally? Well, let me recount a few reasons, each more ominous than the last. Firstly, the whales—those mighty creatures of the crypto sea—have been notably absent this year. Many have even sold their coins, perhaps in a most dramatic sign of capitulation. The poor creatures! 🐋

Santiment data shows that holders of between 10 million and 1 billion coins have been on a relentless selling spree this year. It is this very selling pressure that explains why Shiba Inu has underperformed in comparison to its meme coin counterparts. Such a sad state of affairs, wouldn’t you agree? 😔

Moreover, Shiba Inu’s open interest in the futures market has been, to put it mildly, quite underwhelming. As of Thursday, July 10, open interest stood at a modest $179 million, a far cry from the dazzling figures boasted by other meme coins like Pepe and Bonk. 🏚️

The spot market paints a similarly bleak picture, with Shiba Inu’s $270 million volume falling far behind Dogecoin’s towering $2.4 billion. Pepe, Bonk, and Pudgy Penguins, each with over $1 billion in volume, must surely be laughing in the background. 😏

But that’s not all! Shiba Inu’s ecosystem, that once-promising utopia, is now teetering on the brink. With a total value locked in Shibarium of a mere $2.3 million, and its transaction growth heading south, one might wonder whether it’s time to start the funeral march. 💀

Technical Analysis: A Bearish Symphony on the Horizon

But wait, there’s more bad news, dear reader! Technical analysis suggests that Shiba Inu’s price may be on the verge of a bearish breakdown. The Average Directional Index (ADX) has plummeted to 18, signaling a complete lack of momentum. A figure of 20 and below, especially when descending, is the universal cry of “get ready for a downturn!” 📉

Furthermore, Shiba Inu remains languishing below the Supertrend indicator, a clear sign that this recovery is as weak as a cup of cold tea. It also hovers beneath both the 50-day and 100-day moving averages, which is never a good sign. 🫖

And now, dear friends, the pièce de résistance: the most significant risk lies in the possibility that this rally is simply the handle of an inverse cup-and-handle pattern. And we all know what follows that—nothing but a strong, swift bearish breakdown. 🙄

Should Shiba Inu fall below the lower side of the inverse cup-and-handle, it will likely plunge below $0.000001. Quite a spectacle, isn’t it? A true crypto tragedy. 🎭

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2025-07-10 19:11