So, I'm currently watching Shiba Inu crypto in the market. SHIB is still stuck in a narrow range, even though whales keep accumulating. Since early April, whales have collected 2 trillion SHIB worth about 12 million, while exchange reserves have dropped to an all-time low. But Steve Aoki has actually exited his position, selling all the SHIB he held. An interesting move, given the current weak momentum.

From a technical perspective, a golden cross formed on the 30-minute chart yesterday. This indicator usually signals short-term bullishness, and SHIB's price briefly rose 1.35% when the crossover occurred. The only note is that the price has already fallen from that day's high. So, the signal is still intact but not fully confirmed yet. Trading volume also decreased by 16% in a day, and open interest dropped 8% to 9.37 trillion SHIB. This indicates traders are still cautious about Shiba Inu crypto.

The more important daily chart shows that SHIB has been trapped within a channel since March 11, moving between resistance and support for 35 days without a clear trend. If sellers continue to dominate, it could retest support at 0.00000562. If broken, the next lower targets are 0.00000523 and 0.0000050. Conversely, if buyers take over, the main resistance is at 0.00000625, then 0.00000644. The February 14 level at 0.00000725 will be the next significant resistance. So, for now, it's still in waiting mode with low volume.