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By AI Boost, Omkar Godbole|Edited by Parikshit Mishra
Jun 2, 2025, 12:31 p.m.
- Shiba Inu (SHIB) remains in bearish territory below the Ichimoku cloud after high-volume selling.
- The cryptocurrency faced resistance at 0.00001307 and found support at 0.00001275.
- Geopolitical tensions and trade policies continue to impact SHIB and broader cryptocurrency markets.
Shiba inu
, the world’s second-largest meme token by market value, trades in the bearish territory below the Ichimoku cloud after facing high-volume selling overnight.
The Ichimoku Cloud, a technical indicator developed by a Japanese journalist in the 1960s, is used to analyze market trends, identify support and resistance levels, and gauge momentum. It is composed of several lines and a cloud-like area, all of which provide insights into potential price movements.
STORY CONTINUES BELOW
Crossovers above and below the cloud represent bullish and bearish shifts in market trends.
SHIB experienced high-volume selling at key resistance at 0.00001307 on Sunday between 6:00 and 22:00 UTC, and subsequently fell back to 0.00001274, staying in the bearish territory below the Ichimoku cloud.
Geopolitical tensions and shifting trade policies continue to influence cryptocurrency markets, with Shiba Inu (SHIB) demonstrating resilience amid broader economic uncertainty.
While maintaining its newly established higher range, SHIB faces significant resistance as global trade disputes impact investor sentiment across both traditional and digital asset classes.
- Key resistance emerged at 0.00001307, with high volume selling pressure during the 16:00 and 22:00 sessions.
- Strong support formed at 0.00001275, backed by above-average volume during the 03:00 reversal.
- In the last hour, SHIB experienced significant volatility with a notable price surge from 0.00001289 to 0.00001293 during the 07:13-07:19 period.
This bullish momentum reversed sharply at 07:27, when prices dropped 1.2% to 0.00001283, forming a clear resistance zone around 0.00001293. - The final 30 minutes showed consolidation between 0.00001283 and 0.00001285, with decreasing volume suggesting exhaustion following the earlier volatility.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
