Shiba Inu (SHIB) faced a significant sell-off recently, dropping from $0.00001500 to $0.00001250 between May 29-30 with a spike in trading volume.
The meme coin is now showing signs of potential consolidation and stabilization below recent highs, indicating a base formation.
While SHIB's current price is at $0.00001266, it has experienced a 3.80% decline over 30 days and a notable 54.73% drop over 180 days, signaling a bearish trend.
The coin's short-term support is at $0.00001250, with resistance at $0.00001350-$0.00001400, and a breakout or further decline will depend on market sentiment and trading volumes.