Global Economic Tensions Affect Shib

The cryptocurrency market experienced significant turbulence as escalating merchant tensions between the United States and China sent shock waves through global financial markets. Shiba Inu (Shib) was not spared from the sale that fell to $ 0.00001038 – its lowest level since February 2023 – when investors fled risk assets following President Trump’s announcement of new customs policies.

Despite a positive development in its ecosystem, Meme Coin’s dramatic decline came in its ecosystem, including Shibarium’s obtaining treatment of over 1 billion transactions. The Layer-2 scaling solution has now treated more than 10.3 million blocks since launch, on average approx. 4.4 million daily transactions, making it one of the fastest growing networks at Ethereum.

Some technical analysts note that Shib has formed a potentially double -bound pattern around $ 0.00001050 support level. Recent price actions show signs of recovery as the asset regains $ 0.00001097 level with increasing volume. But with Shib’s open interest, which fell by $ 454 million since January and the financing rates turning negative, short -term Bearish atmosphere remains strong despite the continuation potential over $ 0.00001150 resistance zone if the current support holds, according to Coindesk Research Technical Analysis model.

Technical analysis highlights

• Shib experienced a decrease of 16.2% from $ 0.00001239 to $ 0.00001038 on April 7. During the sale, unusually high trading volumes exceeded 3.6 billion.
• A clear double -bottom pattern formed about $ 0.00001050 Support level followed by the establishment of an Uptrend channel with resistance to $ 0.00001108.
• The recent price action shows Bullish Momentum with increasing volume as Shib regained $ 0.00001097 level with consecutive higher lowness.
• After reaching a low level of $ 0.000010939, the asset established a higher low of $ 0.000010949, followed by a significant movement upwards to $ 0.000010985, representing a gain of 4.2% from the session low.
• An increasing channel formed with support for $ 0.000010965, while increased trading volume during upward movements (especially 29.8 m -volume tip at 09:08) confirms strengthening of bullish momentum.
• Recent consolidation between $ 0.000010970 and $ 0.000010973 suggests accumulation before potential continuation of $ 0.000010990 resistance level.

Disclaimer: This article was generated with 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. This article may include information from external sources listed below when appropriate.

External references:

• Times Tabloid, “Shiba Inu (Shib) coils to a massive feature: Key Levels To See,” Published April 5, 2025.
• Times tabloid, “Chatgpt predicts Shiba Inu (Shib) Price for April 30, 2025,” Published April 6, 2025.
• Coingape, “Shiba Inu Price is facing 50% crash when Bearish Breakout weaves,” Released April 7, 2025.
• Cryptopotato, “Shibarium’s latest milestone fails to stop shibs nosedive: details,” Published April 7, 2025.
• ThecoinRise, “Sui & Shib fights for Momentum, while Block Day Mobile Mining sees wave for 1.2 m users after keynote 3,” Published April 7, 2025.