Buyer Support Restricts Shiba Inu’s Bull Run Momentum

Shiba Inu (SHIB) Gains Ground but Struggles to Sustain Key Moving Average Amid Market Uncertainty

On June 3, 2025, Shiba Inu (SHIB) posted a 2.9% increase, closing at $0.00001317. Despite this upward move, the token fell short of holding above its crucial 100-day simple moving average (SMA) at $0.00001332, indicating a struggle to maintain bullish momentum.

Over the past 24 hours, SHIB has carved out a firm support range between $0.00001265 and $0.00001270, which could serve as a launchpad for further advances. However, the broader market remains cautious, as ongoing geopolitical tensions and shifting trade dynamics create an uncertain environment for cryptocurrencies overall. SHIB’s relative strength in this climate has caught the eye of traders seeking safe havens.

Technically, the coin’s price remains under pressure from the downtrend originating in mid-May, but recent movements hint at potential reversal signs.

Technical Summary:

Buyers consistently defended the $0.00001267 level during early trading sessions, establishing it as a key support zone.
SHIB demonstrated a pattern of higher highs and higher lows, breaking resistance levels at $0.00001294 and $0.00001313, signaling renewed buying interest.
After a brief consolidation phase between 01:07 and 01:34, the token surged sharply at 01:35, marked by the highest trading volume of 14.6 billion tokens for the day.
Price action followed an ascending channel, culminating in a new local peak at $0.00001345.
Toward the end of the trading period, profit-taking increased as volume diminished, hinting at short-term resistance but without disrupting the overall bullish pattern.

In conclusion, while SHIB faces resistance near its 100-day SMA, strong support levels and recent breakout activity suggest cautious optimism among traders as they watch for confirmation of sustained upward momentum.