Shiba Inu (SHIB) forms bullish engulfing at yearly low — Shibarium privacy upgrade (Zama FHE) announced, may affect recovery

SHIB traded almost flat in the last 24 hours around $0.00000859 with spot volume ~258 billion versus a 30‑day average of 1.38 trillion, indicating a market pause rather than a liquidity freeze. RSI sits in the mid‑40s and price remains below the 50/100/200 EMAs, with layered resistance near $0.00000990–$0.00001050. The article outlines two scenarios (bear momentum exhausted vs. bulls probing) and recommends short‑term range trading between $0.00000800 and $0.00000900 until volume rises above the 30‑day average to confirm direction.
AI Analysis
Price flat at $0.00000859 with spot volume (258B) well below the 30‑day average (1.38T) and SHIB trading below the 50/100/200 EMAs suggests neutral-to-mildly bearish technical bias; RSI in mid‑40s is neutral. Recommendation to range‑trade until volume exceeds the 30‑day average limits immediate directional conviction, reducing market impact.