The traders had shifted their focus away from this popular memecoin as the volume has remained a major constraint. A close observation suggests the selling volume in the past week has been more than that of the buying volume that triggered a 50% rise. This suggests the bears are vigilant over the growth of the token, which could not be a good sign for a healthy rally.
As suggested in the above chart, the SHIB price remains consolidated within a decisive symmetrical triangle. The token possesses both bullish and bearish opportunity as the RSI is displaying a higher high but the OBV undergoes a pullback. Hence, if the SHIB price faces a pullback, the support at $0.00002 may offer a base to trigger a rebound; otherwise, a bullish breakout would elevate the levels close to $0.00004.
