Shiba Inu price stabilized at $0.000012 support level on Tuesday despite a 4% decline, as increased trading volumes and derivatives activity suggest growing investor confidence.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
3 mins read
Shiba Inu SHIB $0.000012 24h volatility: 3.4% Market cap: $7.03 B Vol. 24h: $202.47 M price found reliable support at $0.000012 on Tuesday, August 5, shedding 4% intraday amid a broader profit-taking wave. However, vital market metrics suggest SHIB investors are putting on a resilient front.
Shiba Inu Price vs. Trading Volume | CoinmarketCap, August 5
CoinMarketCap data showed a decisive uptick in trading activity throughout the day. Spot trading volumes rose nearly 40%, climbing from a $154 million low to over $215 million by press time. This reflects increased dip-buying activity amid widespread profit-taking seen across the broader crypto market on Tuesday.
Shiba Inu Derivatives Data Analysis | Coinglass, August 5
Further signs of resilience emerged from the derivatives markets. The Coinglass chart above reveals a 25% rise in futures trading volume for SHIB, signaling increased interest among speculative traders. The long-short ratio also trended positive, pointing to growing expectations of an imminent upturn in profits.
Shiba Inu price action on the daily chart reveals an ongoing retracement following a positive start to the week. As seen below, SHIB price is currently hovering around $0.000012, where bulls have mounted a short-term defense. This level previously acted as consolidation support in early July, and rising spot and derivative volumes seen intraday suggest Shiba Inu holders are reacting to it again.
The Super Moving Averages (5, 8, 13) now signal mixed momentum. The 5-day SMA at $0.00001212, and 8-day SMA at $0.00001238 have flipped below the 13-day SMA at $0.00001294, indicating the emergence of bearish pressure. However, the close clustering of these averages suggests the SHIB market trend still hangs in the balance.
Shiba Inu Price Forecast | TradingView, August 5
RSI currently sits at 45.61, recovering slightly from oversold levels below 39 intraday, hinting that downside momentum may be easing. If SHIB holds above the $0.000012 support and can reclaim the 8-day SMA at $0.00001238, price could target a retest of $0.00001300.
Breaking above the 13-day SMA would flip short-term momentum and potentially drive price toward the psychological level at $0.000015. Sustained buying volume and an RSI breach above 50 would reignite a bullish SHIB price momentum, potentially opening the door toward the $0.00001750 and $0.000025 resistance zones.
A failure to hold the $0.000012 level would expose SHIB to further downside. Immediate support lies at $0.0000115, and breaching this could send prices back toward $0.0000105 or even $0.0000095. Confirmation of a lower low and RSI breaking below 39 again would invalidate the bullish thesis.
As Shiba Inu buyers defend support zones and eye a breakout, investors are increasingly looking toward early-stage Solana projects to diversify exposure. Solaxy (SOLX), the first layer-2 solution on the Solana blockchain, has emerged as a standout option.
Solaxy Presale
Solaxy’s mainnet launch is imminent, alongside Tier-1 CEX listings and staking yields of up to 70% APY, could prove attractive to SHIB holders betting on the next market rebound cycle. Visit Solaxy’s official page to get in early before public trading begins.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
