Shiba Inu (SHIB) Price Prediction for May 16

The Shiba Inu price today is hovering around $0.00001486 after slipping from a recent high near $0.00001746. This drop marks a retracement of nearly 15% over the past three sessions, pulling SHIB back into a former demand zone. While short-term indicators are flashing oversold conditions, broader price structure shows that bulls are attempting to hold this area as support. Shiba Inu price dynamics (Source: TradingView) From a technical lens, the Parabolic SAR on the daily chart has flipped above price action, signaling a bearish trend continuation unless reversed. Meanwhile, the Bollinger Bands on the 4-hour chart show price falling below the mid-band and approaching the lower band at $0.00001471, suggesting a potential volatility expansion on the downside. Why Shiba Inu Price Going Down Today? Why Shiba Inu price going down today can be attributed to profit-taking after a sharp Shiba Inu price spike earlier this month. As seen on the 4-hour and daily charts, SHIB faced heavy resistance near the $0.00001700 level, triggering a sequence of lower highs. Shiba Inu price dynamics (Source: TradingView) On the 30-minute chart, RSI has dipped to 26.11—deep in … The post Shiba Inu (SHIB) Price Prediction for May 16 appeared first on Coin Edition .

Source: Coin Edition