Shiba Inu Faces Uncertainty as Billions of Tokens Flood Exchanges

Shiba Inu (SHIB) struggled to find clear direction over May 29-30, 2025, as the token traded in a narrow band between $0.0000132 and $0.0000145 amid cautious investor sentiment and a significant influx of tokens into exchanges.

Data from CoinDesk Research reveals that SHIB encountered robust support near $0.000013285, where buyers stepped in to prevent further declines. Conversely, a resistance level around $0.000014500 curtailed upward momentum, resulting in a sideways trading pattern.

By the close of May 30, the price hovered near $0.000013390, accompanied by diminishing volume, suggesting hesitance among traders to commit to a strong directional move.

This cautious trading environment is partially driven by broader macroeconomic uncertainties, including rising geopolitical tensions and evolving trade policies that have increased volatility across crypto markets.

Compounding the pressure, over 2 trillion SHIB tokens were transferred onto exchanges recently, raising concerns about increased selling activity. Technical indicators also pointed to a descending triangle formation, often signaling potential downward pressure.

Despite overall gains in the cryptocurrency space, SHIB’s price action remained contained as traders weigh these conflicting forces.

Technical Snapshot:

• Price fluctuated between $0.000013252 and $0.000014508, marking an 8% range.
• Key support found at $0.000013285 spurred brief upward moves.
• Resistance at $0.000014500 limited further gains.
• Final trading session ended near $0.000013390 with lower volume, indicating market caution.