Shiba Inu Coin Hits Bearish EMA Stack, Will It Hold $0.00001450?

Key Highlights:

• SHIB is currently trading near $0.00001460, down 17% from its May high, as it loses early-month momentum.
• Despite a $1.5M TVL surge on Shibarium pushing SHIB to $0.00001757, gains quickly faded.
• Price remains below the 50, 100, and 200-day EMAs, confirming a bearish setup.
• Whale netflows are down by -311%, while active addresses have dropped 68% since December.
• Indicators such as MACD, RSI, and CMF show weak or neutral momentum, suggesting consolidation or further downside.

Despite a record burn spike and strong sentiment, Shiba Inu’s price is struggling under a bearish technical structure and weakening on-chain support.

From May 8 to 11, Shiba Inu, the first major dog-themed memecoin launched on Ethereum, began another price rally due to a variety of catalysts.

This includes a tweet from marketing lead Lucie making an audacious price prediction of a 1,000% increase, as well as increased excitement surrounding Shibarium, a Layer-2 blockchain.

During this period, Shibarium’s total value locked (TVL) increased over $1.5M to $3.79M, giving hope for more widespread adoption of Shiba Inu.

However, the price rally did not sustain its momentum. On May 17, Shibburn’s tracker noted an incredible 106,040% spike in their 24-hour burn rate, but SHIB fell by -5.3% the same day, creating a lower high and confirming a bearish setup.

SHIB/USD Technical Analysis: Bearish EMA Stack Confirms Trend Weakness