Consolidation Before the Next Big Move?

SHIB is holding support near $0.00001405 with RSI at 57 and bullish on-chain signals. A breakout above $0.00001500 could push toward $0.00001600, while a drop below support risks a slide to $0.00001320. Shibarium’s growth and whale activity add intrigue.

5/18/20251 min read

SHIB price chart near $0.00001405 support with 50-period MA at $0.00001430 and RSI at 57. Key resist
SHIB price chart near $0.00001405 support with 50-period MA at $0.00001430 and RSI at 57. Key resist

The price is sitting close to a support level at $0.00001405, which has held strong lately. The Relative Strength Index (RSI) sits at 57, showing decent buying pressure but not overbought yet, while the 50-period moving average at $0.00001430 acts as a floor beneath the price. If SHIB breaks above $0.00001500 with confidence, it could climb toward $0.00001600. But if it falls below $0.00001405, the next stop might be $0.00001320.

What’s Driving SHIB Right NowOn the news front, Shiba Inu’s ecosystem is buzzing, especially with Shibarium, its layer-2 network, hitting over one billion transactions recently. Despite this milestone, SHIB’s price hasn’t taken off, likely due to a cooling crypto market and some investors cashing out after a May rally. Big players (whales) are stacking SHIB, with noticeable token inflows, and the burn rate is picking up, which could make SHIB rarer over time.