Shiba Inu Faces Uncertainty as Billions of Tokens Flow into Exchanges
Shiba Inu (SHIB) experienced a volatile stretch between May 29 and May 30, 2025, trading in a narrow band between $0.0000132 and $0.0000145. This price action reflected investor wariness amid a significant influx of tokens hitting the market.
Data from CoinDesk Research highlights a key support level forming near $0.000013285, which helped stabilize the price after several dips. However, resistance around $0.0000145 curtailed upward momentum, trapping SHIB within a tight range.
By the close of May 30, SHIB prices settled near $0.00001339, while trading volumes declined, signaling a pause as traders awaited clearer market direction.
The recent turbulence is linked to broader macroeconomic headwinds such as escalating geopolitical tensions and evolving trade policies, factors contributing to overall crypto market unease.
Moreover, an injection of over 2 trillion SHIB tokens onto exchanges has intensified selling pressure fears. This supply surge, coupled with the formation of a descending triangle chart pattern, suggests the possibility of further downside risk.
Despite positive movements in other cryptocurrencies, Shiba Inu’s price remains constrained, reflecting market participants’ cautious stance amid growing token availability.
Technical Summary:
- Price fluctuated between $0.000013252 and $0.000014508, marking an 8% volatility range.
- Strong buying support near $0.000013285 limited losses.
- Resistance at $0.0000145 restricted further gains.
- Decreasing volume late in the session points to hesitant trading.
