The cryptocurrency market has once again slipped into bearish territory, and Shiba Inu (SHIB) is reflecting this sentiment. On May 3, 2025, SHIB is trading at $0.00001329, posting a modest decline of 1.03% over the past 24 hours. This dip comes alongside a noticeable drop in trading volume, which has fallen by 29.11% to $120.96 million. The token’s market capitalization now stands at $7.82 billion, highlighting reduced investor participation as measured by the volume-to-market-cap ratio, which currently sits at a low 1.54%.

Shiba Inu remains one of the most widely held meme-based cryptocurrencies, boasting approximately 1.5 million holders. Despite this large base, the recent slowdown in trading activity indicates a pause in bullish momentum. The total supply of SHIB remains at 589.5 trillion tokens, and its fully diluted valuation is nearly identical to its current market capitalization, suggesting no inflationary pressures are expected in the immediate term.

From a technical standpoint, SHIB’s price action on the hourly chart is hovering near a key support level at $0.00001329. If this support fails to hold, SHIB could see a further decline toward $0.00001315. This minor but crucial support level may serve as a short-term trigger point for either a bounce or a deeper correction depending on broader market conditions and investor sentiment.

Zooming out to the daily chart, no definitive signals of a bullish reversal are apparent. The candles continue to close near their lows, which is often seen as a sign of bearish pressure. If this trend continues and the daily close remains weak, SHIB may slide further toward the $0.00001250 range. This level has served as a historical zone of interest for buyers and may offer some support if bearish momentum persists.

In terms of overall market behavior, there is a visible lack of strong directional movement. Neither buyers nor sellers are in full control, leading to an indecisive market environment. This neutral trend could pave the way for sideways price action, especially if no significant macroeconomic or crypto-specific catalysts emerge in the near term.

In the short run, if SHIB maintains its position near current levels, the price is likely to consolidate in a tight range between $0.00001330 and $0.00001450. This would reflect a period of stabilization as the market assesses its next move. A breakout above this consolidation zone would indicate renewed bullish interest, while a breakdown below the lower bound may suggest further bearish continuation.

While Shiba Inu has proven its resilience as a meme token with strong community backing, its price remains vulnerable to broader market movements. Investors and traders should closely monitor support and resistance zones, along with changes in trading volume, to gauge the direction of the next significant move.

In summary, Shiba Inu (SHIB) on May 3 is displaying signs of entering a consolidation phase, following a brief period of decline. Despite minor losses, the token is stabilizing near key support levels, signaling a pause in both bullish and bearish momentum. This consolidation typically indicates that the market is undecided and waiting for a catalyst to push the price in a definitive direction.

Short-term indicators continue to show weakness, as daily candles close near their lows and trading volume remains subdued.