Shiba Inu (Shib), the world’s second largest Memecoin, has had a tough week. Still, cryptocurrency appears on track to detect a double -digit monthly gain.
Shib fell to $ 0.00001263 early today, the lowest since July 10th. Prices are down almost 9% during the week with a loss of over 2% in the last 24 hours. The weakness is in line with the mood seen in the Memecoin sector. Coindesk Memecoin index (CDMEME) has dropped by 10% in seven days.
Shib award volatility is consistent with wider shifts in the crypto market as police security transforms digital asset allocation. The token’s lack of collection despite aggressive combustion programs emphasizes investor preferences for utility-driven projects over pure speculation.
Key AI insight
- Shib throws 2.28% from $ 0.000013107 to $ 0.000012809 during a 24-hour window ending July 30, 14:00
- The combustion mechanism destroyed 600 million tokens in a single session that marked a 16,710% increase in the degree of destruction
- Competitors Bonk, Pengu and Utility-driven Remittix Capture Trader Flows when Shib loses Meme Coin management.
Technical levels
- Price dropped 2.28% from $ 0.000013107 to $ 0.000012809 in the 24-hour period.
- Trade bandwidth spans $ 0.0000005215, corresponding to 4.12% of the total interval.
- Resistance limited progress of $ 0.000013184 with rejection below 17:00 session.
- Support arose at $ 0.000012663, supported by 1.25 trillion token volume.
- The descendant was intensified after 10:00 on July 30 with consecutive lower tops.
- Late-session rejection delivered a gain of 0.25% in the final trade time.
- Volume explosion reached 43.5 billion tokens over 13: 57-13: 59 rally phase.
- The three-wave pattern appeared: consolidation, distribution and then map cover.
Bullish tip
Shib’s monthly price diagram shows that the token is likely to end July with a reverse hammer light as it seems to jump from year to date.
A reverse hammer that appears after downward or on the market slave indicates that buyers tried to push the price significantly higher during the period, but sellers eventually over -labeled buyers and pushed prices back to near the opening price.
However, the pure presence of the long upper shade indicates that buying interest is coming back on these low levels, suggesting potential bullish reversing higher.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
