Shiba Inu Surprisingly in Green Amid $182 Million Market Drop

Shiba Inu Shines Amidst Broader Crypto Market Downturn

While the broader crypto market faced a downturn with over $182 million in liquidations according to CoinGlass data, Shiba Inu (SHIB) demonstrated resilience by trading in positive territory.

The meme coin's gains, though modest, stood out during a session where most digital assets declined. At press time, SHIB was up 1.12% to $0.0000143 after reaching intraday highs of $0.0000147. This upward movement occurred as major cryptocurrencies like Bitcoin and Ethereum continued their losses in early Sunday trading.

Crypto Market Sees Profit-Taking, Macroeconomic Uncertainty Lingers

The cryptocurrency market experienced widespread profit-taking over the weekend following last week's rally. Bitcoin's price notably retreated after approaching its all-time high near $112,000.

Market participants remain cautious amid ongoing macroeconomic uncertainty and technical indicators pointing toward potential short-term price corrections across the crypto sector.

Shiba Inu Price Faces Battle Between Bulls and Bears

Shiba Inu's current price action reflects a standoff between bullish and bearish forces. The daily RSI hovering near the 50 midpoint underscores this indecision among market participants.

Key price levels to watch include:

• Current range: $0.000014-$0.000015 (where significant SHIB holdings exist at an average cost basis of $0.000014 according to IntoTheBlock)
• Resistance zone: $0.000015-$0.000019 (where substantial SHIB was previously acquired at $0.000017 average)
• Support level: $0.000011 (representing another important average cost basis for SHIB holders)