{"id":25295,"date":"2025-05-05T21:02:18","date_gmt":"2025-05-05T21:02:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=25295"},"modified":"2025-05-05T21:02:18","modified_gmt":"2025-05-05T21:02:18","slug":"shib-plunges-7-4-in-one-week-but-market-sentiment-remains-cautiously-optimistic","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=25295","title":{"rendered":"SHIB Plunges 7.4% in One Week, but Market Sentiment Remains Cautiously Optimistic"},"content":{"rendered":"<div>\n<p>The cryptocurrency market continues to reflect broader economic uncertainties as Shiba Inu (SHIB) faces significant downward pressure. <\/p>\n<p>Recent price action shows SHIB testing critical support at $0.0000127 after experiencing a 7.4% decline from recent highs, with volume spikes coinciding with major selloffs particularly during early May, according to CoinDesk Research&#8217;s technical analysis data model.<\/p>\n<p>Despite current volatility, on-chain data reveals growing institutional confidence in SHIB&#8217;s long-term prospects. April 2025 saw the addition of 109 new millionaire wallets holding SHIB, bringing the total to 860 addresses with at least $1 million in tokens. This accumulation occurred even as SHIB&#8217;s 7% price gain in April underperformed compared to Bitcoin&#8217;s surge toward $95,000. <\/p>\n<p>Market sentiment remains cautiously optimistic as futures open interest for SHIB nearly doubled in April, rising from under $97 million to nearly $190 million. Meanwhile, ongoing development of Shibarium, SHIB&#8217;s Layer-2 blockchain, continues with improvements to transaction throughput and validator onboarding that could provide fundamental support for future price action.<\/p>\n<p><strong>Technical Analysis Highlights<\/strong><\/p>\n<ul>\n<li>Price action reveals a series of lower highs and lower lows, with volume spikes coinciding with major selloffs, particularly during the May 3rd decline below $0.0000130. <\/li>\n<li>A key horizontal support zone has formed around $0.0000127, which has been tested multiple times in the last 48 hours.<\/li>\n<li>The $0.0000129 level now represents immediate resistance, with the Fibonacci retracement suggesting potential stabilization at the current level before any meaningful recovery can occur. <\/li>\n<li>In the last 100 minutes, SHIB demonstrated remarkable volatility and recovery, initially plunging to a critical support level at $0.0000126 during a high-volume selloff at 13:31-13:40, where volume peaked at over 22 million units.<\/li>\n<li>The price found strong buying interest at this support zone, triggering a V-shaped recovery that accelerated dramatically around 13:57-14:01, where bullish momentum pushed SHIB up nearly 10% from its lows. <\/li>\n<li>The most recent price action shows consolidation above $0.00001276 with decreasing volume, suggesting short-term exhaustion after the recovery rally, though the higher lows pattern forming since 14:40 indicates potential for continued upward movement if the $0.00001274 support holds.<\/li>\n<\/ul>\n<p>Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to <a href=\"https:\/\/www.coindesk.com\/ethics\">our standards<\/a>. For more information, see <a href=\"https:\/\/www.coindesk.com\/coindesk-news\/2023\/04\/14\/how-coindesk-will-use-generative-ai-tools\">CoinDesk\u2019s full AI Policy<\/a>. This article may include information from external sources, which are listed below when applicable.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency market continues to reflect broader economic uncertainties as Shiba Inu (SHIB) faces significant downward pressure. Recent price action shows SHIB testing critical support at $0.0000127 after experiencing a 7.4% decline from recent highs, with volume spikes coinciding with major selloffs particularly during early May, according to CoinDesk Research&#8217;s technical analysis data model. Despite [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-25295","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/25295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25295"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/25295\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}