{"id":30181,"date":"2025-06-04T13:17:09","date_gmt":"2025-06-04T13:17:09","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=30181"},"modified":"2025-06-04T13:17:09","modified_gmt":"2025-06-04T13:17:09","slug":"shiba-inu-breaks-high-volume-support-pepecoin-fails-to-top-200-day-average","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=30181","title":{"rendered":"Shiba Inu Breaks High-Volume Support, PepeCoin Fails to Top 200-Day Average"},"content":{"rendered":"<div>\n<p>Memecoins Shiba Inu (SHIB) and PepeCoin (PEPE) have disappointed bulls over the past 24 hours, suggesting a risk-off mood in the broader crypto market.<\/p>\n<p>SHIB experienced significant price volatility, reaching a peak of 0.00001336 before declining to 0.00001297, with notable high-volume support emerging at the 0.00001310 level overnight.<\/p>\n<p>The support was breached soon before press time, penetrating the bullish upward-sloping higher lows pattern, marking a recovery from the May 31 low of 0.00001226.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/b765df22e549d730c4b478921f6ce68c3fdb04e5-2848x1352.png?auto=format\" alt=\"SHIB's hourly chart. (TradingView\/CoinDesk)\" title=\"SHIB's hourly chart. (TradingView\/CoinDesk)\"><\/p>\n<p>The breakdown follows an overnight surge in the SHIB burn rate, which increased by nearly 140%, removing 39.49 million tokens from circulation. Furthermore, open interest in SHIB derivatives increased by 2.03% to 11.36 trillion SHIB (approximately $158.65 million), with Gate.io leading with 54.18% of the total open interest.<\/p>\n<h4>Key technical insights<\/h4>\n<ul>\n<li>SHIB exhibited significant price volatility over the 24-hour period, reaching a peak of 0.00001336 during the 14:00 hour on June 3rd before declining to a low of 0.00001297 at 21:00, representing a range of 0.00000039 (2.96%).<\/li>\n<li>Notable high-volume support emerged at the 0.00001310 level during the 01:00 hour on June 4th, with volume exceeding 573B, well above the 24-hour average of 276B. (The high-volume support was breached soon before press time.)<\/li>\n<li>The price action formed a descending channel from the 15:00 peak, with resistance at 0.00001320 repeatedly tested and rejected, suggesting continued bearish pressure despite the recent consolidation between 0.00001310-0.00001315.<\/li>\n<li>Volume spiked significantly at 08:02 with over 14.9B SHIB traded, nearly triple the hourly average, confirming strong buying interest.<\/li>\n<\/ul>\n<h4>PEPE<\/h4>\n<p>PEPE&#8217;s recovery from the May 31 lows gained momentum on Tuesday, but sellers eventually overpowered buyers near the 200-day SMA resistance, pushing the market valuation back to $5.2 billion.<\/p>\n<p>The rejection at the 200-day SMA could invite more selling, potentially yielding a re-test of the 50-day SMA support at $4.64 billion.<\/p>\n<p>That said, the 50-day SMA has recently crossed over the 100-day SMA and is trending upward, hinting at a broader bullish shift in momentum. So, potential dips could be short-lived.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/c4e4ab386b73aa1430b93d77119e8420f5e2754d-2848x1352.png?auto=format\" alt=\"PEPE's daily price chart. (TradingView\/CoinDesk)\" title=\"PEPE's daily price chart. (TradingView\/CoinDesk)\"><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Memecoins Shiba Inu (SHIB) and PepeCoin (PEPE) have disappointed bulls over the past 24 hours, suggesting a risk-off mood in the broader crypto market. SHIB experienced significant price volatility, reaching a peak of 0.00001336 before declining to 0.00001297, with notable high-volume support emerging at the 0.00001310 level overnight. The support was breached soon before press [&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-30181","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\/30181","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=30181"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/30181\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}