Shiba Inu price analysis (Neutral) — 0.00 USDT (-1.89% 24h)

SHIB/USDT is showing classic oversold characteristics after a 1.89% decline in the past 24 hours. The current price of $0.00001244 sits below both the 20-day SMA ($0.00001255) but marginally above the 50-day SMA ($0.00001245), indicating potential support building at these levels. With RSI reading at 33.96, SHIB has entered oversold territory, suggesting selling pressure may be exhausting. The substantial $12 million trading volume indicates continued market interest despite the price dip. Traders should watch for consolidation around current levels with potential for a technical bounce. Short-term traders might consider scaling into positions with tight stop-losses below the 50-day SMA, while longer-term holders could view this as an accumulation opportunity. However, the 2.57% volatility reading warrants caution – position sizing remains critical in this meme coin that continues to trade on sentiment and broader market momentum rather than fundamental developments.