Shiba Inu (SHIB) Struggles to Hold Above Key Moving Average Despite Gains — Technicals Show Mixed Signals

On June 3, 2025, Shiba Inu (SHIB) experienced a modest rally, closing at $0.00001317 — marking a 2.9% gain over the past 24 hours. However, the token was unable to sustain its gains above the critical 100-day simple moving average (SMA), which currently sits at $0.00001332.

Despite the upward price movement, SHIB’s momentum remains somewhat subdued. Buyers have made efforts to build a solid support level, which has been firmly established between $0.00001265 and $0.00001270 over the last day. Technical indicators suggest that this base could potentially fuel further upside momentum in the near term.

The broader cryptocurrency market continues to feel the effects of geopolitical tensions and shifting trade policies, creating waves of volatility. Interestingly, SHIB has emerged as a relative outperformer amid this uncertainty, drawing attention from traders looking for resilient assets.

Examining the price action more closely, the downtrend that began after the May 12 peak remains in effect, keeping cautious traders on alert.

Key Technical Highlights:

• Strong support was repeatedly tested and held at $0.00001267 during early trading hours, signaling buyer confidence at that level.
• The price formed an uptrend characterized by a series of higher lows and higher highs, successfully breaking resistance points at $0.00001294 and $0.00001313.
• An initial consolidation phase between 01:07 and 01:34 established a support zone around $0.00001330, which preceded a sharp breakout at 01:35, accompanied by the day’s highest volume spike of 14.6 billion tokens.
• The token traded within a clear ascending channel, reaching a new short-term high of $0.00001345.
• In the final moments of the trading session, some profit-taking appeared as volume declined, suggesting short-term resistance, though the overall bullish setup remains intact.

In summary, while SHIB shows signs of resilience with established support and breakout activity, its inability to decisively stay above the 100-day SMA points to cautious optimism among traders.