Shiba Inu (SHIB) is trading at $0.00001358 after a modest 3% daily move, extending a quiet but steady uptrend that began in mid-April.
The token is hovering just above its 21-day EMA and comfortably below its 200-day SMA ($0.00001858)—a structure suggesting potential for a reversal, but not yet confirmation. The daily RSI sits at 57.54, just shy of a bullish breakout level, while the MACD remains flat, indicating a lack of directional conviction.
Technically, SHIB is building a base—volatility is compressing, and price action remains tightly wound. A close above $0.00001400 could open the door to a move toward the 200-day SMA, a zone that aligns with the broader meme coin market’s recent strength.
Shiba Inu’s May History Says Buckle Up
Historically, May has been anything but boring for Shiba Inu. The infamous 355% run in May 2021 turned the token into a household name. But the following years brought extremes: a -42.1% crash in May 2022, and a flat +2% move in May 2023. That unpredictability is part of the allure—and the risk.
The macro environment has shifted dramatically since SHIB’s explosive debut. Today, it holds an $8 billion market cap, has launched Shibarium as its Layer 2 solution, and is deeply integrated into the Ethereum ecosystem.
The question is no longer whether SHIB can shock the market—it’s whether it can maintain attention in an environment filled with faster-moving rivals and saturated meme narratives.
SHIB may no longer be the underdog, but it’s still the largest meme token on Ethereum, with unmatched liquidity and brand equity in the space.
With RSI rising and momentum building just below resistance, a breakout toward the $0.00001600–$0.00001850 range isn’t out of reach—especially if meme interest rotates back toward Ethereum-based plays.
Still, this cycle won’t reward nostalgia alone. Shiba Inu traders will be watching for confirmation from volume, breakout structures, and on-chain metrics before piling in. If SHIB is going to reignite its May magic, it will need a real catalyst—or a spark from the broader meme ecosystem.
Related: Pi Network Price Rebounds As PI Unlocks Slow Down: Analysis
