Shiba Inu [SHIB] failed to match Bitcoin’s gains over the past two weeks, signaling weaker demand

• Key Points :
  • Shiba Inu [SHIB] failed to match Bitcoin’s gains over the past two weeks, signaling weaker demand and a bearish outlook.
  • The memecoin market cap slid from $59.6 billion to $54.72 billion over three weeks, reflecting sideways movement.
  • SHIB has been range-bound since March, with its attempted May breakout failing, returning to the range lows at $0.0000111.
  • Low trading volume and dominant selling pressure since 2025, with OBV showing lower highs, challenge SHIB bulls.
  • Mean Coin Age has been declining since May, with a spike in selling pressure eased, but MVRV shows widespread losses.
  • A potential short-term rally could occur if SHIB breaks above $0.0000136, a key demand zone near the range low.

The Memecoin Melancholy

Shiba Inu [SHIB] has been caught in a maelstrom of underperformance, unable to match Bitcoin’s gains over the past two weeks. This stagnation reflects low demand and unfavorable on-chain distribution conditions, making a recovery a formidable task. The memecoin market cap, which stood at $59.6 billion a month ago, now hovers at $54.72 billion, indicating a lackluster performance across the sector. SHIB, in particular, has been trading within a narrow range since March, with its attempted breakout in May ending in failure. The token retreated to the range lows at $0.0000111, mirroring broader sector-wide weakness. Even Bitcoin [BTC], despite its own range-bound behavior between $101.5K and $109.5K, outperformed SHIB, leaving the memecoin market in a state of inertia.

The market structure of SHIB remains stubbornly bearish, with the lower high at $0.0000136 requiring a decisive breach to shift sentiment. Indicators paint a grim picture: trading volume has been anemic throughout 2025, markedly lower than the robust levels seen in November-December 2024. The OBV (On-Balance Volume) metric has consistently formed lower highs this year, underscoring the dominance of sellers. Meanwhile, the Mean Coin Age has been in a downtrend since May, indicating increased token movement from long-term holders—a concerning sign of distribution. The Age Consumed data revealed a spike in selling pressure during early June, though this has since subsided. The MVRV (Market Value to Realized Value) ratio further validates the bearish narrative, showing that many holders are still entrenched in losses. Taken together, these metrics paint a sobering picture for SHIB bulls, leaving the token teetering on the brink of renewed weakness.

A Glimmer of Hope Amidst the Bearish Cloud

Despite the bearish indicators, SHIB’s price sits at a key demand zone near the range low, presenting a tantalizing opportunity for a short-term rally. A breakout above $0.0000136 would serve as the first signal of a recovery, validating the resilience of long-term holders. This demand zone, nestled between the range’s lower boundary and mid-point resistance, could act as a fulcrum for upward momentum. However, the path to breakout remains fraught with obstacles. Sustained demand is essential, as low trading volumes and dominant selling pressure threaten to derail any progress. Investors may find solace in waiting for a swift Bitcoin rally, which could redirect capital toward the memecoin sector. Such a scenario would provide SHIB bulls with the impetus needed to push through resistance. Yet, even this potential lifeline carries risks, as memecoins often act as the first casualties of market corrections.

Conclusion

Shiba Inu [SHIB] finds itself trapped in a bearish web, unable to match Bitcoin’s gains over the past two weeks. The memecoin market cap’s decline from $59.6 billion to $54.72 billion reflects a lack of bullish momentum across the sector. SHIB’s range-bound behavior since March, punctuated by failed breakout attempts, underscores the challenges facing its bulls. Low trading volume, dominant selling pressure, and the distribution of long-held coins further complicate matters. Despite these headwinds, the token’s position near the key demand zone at the range low offers a glimmer of hope. A breakout above $0.