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Key Takeaways:
SHIB remains stuck in a long-term range, with bearish technical and on-chain indicators.
Decreased Mean Coin Age and low volume suggest selling pressure from long-term holders.
A short-term recovery is possible if SHIB breaks $0.0000136 and broader market sentiment improves.
The memecoin sector has failed to make any significant bullish progress in recent weeks. A month ago, the total meme market cap was valued at $59.6 billion. As of now, it has dropped to $54.72 billion, signaling a stagnation across the board. Shiba Inu (SHIB), one of the leading memecoins, reflects this trend clearly, having traded in a tight range since March.
SHIB Price Stuck in Bearish Range
Shiba Inu’s price action has remained confined between $0.0000111 and $0.0000142, with a mid-range resistance at $0.0000126. Its failed breakout attempt in May and subsequent drop to range lows at $0.0000111 highlights the weakness in buyer momentum. SHIB’s underperformance compared to Bitcoin (BTC) — which itself has remained range-bound — further underscores the lack of demand for the token.
Indicators Show Declining Demand
Technical indicators paint a bearish picture. On the daily chart, the market structure remains negative, with a lower high at $0.0000136 still unbroken. The On-Balance Volume (OBV) has formed lower highs throughout 2025, indicating persistent selling pressure. Additionally, trading volumes have been relatively low this year, a sharp contrast to the activity seen in late 2024.
Also Read: Shiba Inu (SHIB) Surges 6% as Golden Cross and AI Teaser Spark Bullish Momentum
On-Chain Metrics Support Bearish Sentiment
Data from Santiment shows a drop in SHIB’s Mean Coin Age since May, suggesting increased movement of tokens by long-term holders — a signal of distribution rather than accumulation. The MVRV ratio also indicates that many investors are still holding at a loss. Furthermore, Age Consumed data spiked in early June, hinting at a wave of selling that has only recently eased off.
Despite the negative indicators, there may be a glimmer of hope. SHIB is currently trading near the lower end of its long-term range, a region that previously saw buyer interest. A decisive breakout above the $0.0000136 mark could flip the market structure and signal the beginning of a recovery. For this to occur, however, broader market support — potentially from a Bitcoin rally — will likely be necessary.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
