Shiba Inu Slides to Two-Month Low Amid Global Market Tensions and Trumps Threats

Shiba Inu (SHIB), the world's second-largest meme token by market value, has faced intense selling pressure in recent days, mirroring the broader crypto market and U.S. stock market losses. According to data from CoinDesk, SHIB has fallen over 3.5% to 0.00001134, a level last seen on April 9. The leading cryptocurrency by market value, Bitcoin, also slipped nearly 3% to $103,800. This risk aversion was triggered after President Donald Trump downplayed reports of his administration seeking a truce with Iran and threatened the assassination of Iran's Supreme leader, Ayatollah Ali Khamenei, calling for Iran's unconditional surrender in the ongoing war with Israel. The decline in SHIB's price followed its rejection at the $0.00001230 resistance level on Monday, which paved the way for an aggressive sell-off with exceptionally high trading volumes exceeding 1.2 billion tokens. Support briefly emerged at around $0.00001167 early on Tuesday, but was eventually pierced by bears, driving prices lower. Market analysts note that SHIB's performance reflects broader cryptocurrency market trends, which continue to be influenced by global economic factors and trade disputes between major economies. As traditional financial markets respond to these tensions, cryptocurrencies like SHIB face increased volatility while traders closely monitor key support and resistance levels for signs of directional movement. In the 20:00-21:00 timeframe, SHIB faced a clear rejection at the $0.0000123 resistance level. During the 22:00-00:00 period, there was an aggressive sell-off with exceptionally high volume (1.23B and 1.31B). Support emerged around $0.00001167, coinciding with high-volume buying interest. However, bearish momentum appears to be losing steam as price consolidates in the $0.00001176-$0.00001182 range. In the last hour, there has been increased volatility, forming a notable price structure between $0.00001175-$0.00001182. A recovery attempt reached a local high of $0.00001182 at 13:30, accompanied by substantial volume (8.8B). However, bullish momentum was short-lived as sellers returned at 13:44, driving price down 3% with exceptional volume (9.7B). In the final minutes, there was consolidation around $0.00001175, with decreasing volatility and volume suggesting exhaustion of selling pressure. Overall, SHIB's performance in recent days highlights the continued influence of global economic factors and trade disputes on the cryptocurrency market. As traders monitor key support and resistance levels for signs of directional movement, it will be important to keep an eye on developments in traditional financial markets and global political tensions to understand how they may impact the cryptocurrency market in the coming days and weeks.