- SHIB fell to $0.00000506, trading below its nine-day EMA as the daily RSI dropped to 37.90.
- Rakuten plans to give verified SHIB holders physical commemorative coins at its November 3 seminar, subject to event requirements.
- A close below $0.00000500 would reveal lower support, while a close above $0.00000522 would bring a better short-term chart.
SHIB is approaching a closely watched support level as sellers retain control, while Rakuten prepares a commemorative giveaway for holders.
Rakuten Sets Conditions for the November Giveaway
SHIBMortal reported that Rakuten will distribute physical commemorative coins at its November 3 seminar. Attendees should confirm their SHIB possession using the Rakuten Wallet app at the event booth. The coins are not for the people to buy/sell or transfer, but rather a keepsake.
This is important to those who are relying on an automatic deposit to their account. The giveaway does not provide extra SHIB or change the supply of existing tokens. Any collector value would depend on demand for the physical items.
The wallet check makes token ownership a condition of participation. But the announcement doesn’t mention the minimum amount required or all the details. Those who are interested must refer to the official Rakuten event information prior to any arrangements.
The event is an opportunity for the Shiba Inu community to engage in something more than just online trading. It may draw interest from holders who collect project-related merchandise. Whether Rakuten follows this event with further initiatives remains unknown.
SHIB Slips Below Its Short-Term Average
The daily Binance chart showed SHIB at $0.00000506 on October 17. Its nine-day exponential moving average stood higher, at approximately $0.00000522. Trading beneath that line reflects the weakness seen throughout October.
The recent decline followed an advance toward $0.00000600 earlier in the month. Since then, rebounds have struggled to regain previous highs. The descending trendlines show how sellers have repeatedly met recovery attempts.
The relative strength index, or RSI, registered 37.90. It remains below 50, indicating that downward momentum currently outweighs buying strength. However, the reading has not reached the commonly watched oversold level of 30.
SHIB is now testing the $0.00000500 area after several sessions of losses. If that is breached again at a closing price on a daily basis, $0.00000480 will be in view. Additional weakness may reopen the 0.00000440 to 0.00000460 range.
Two Price Levels Could Change the Picture
Buyers first need to push SHIB above $0.00000522, where the nine-day EMA sits. That move would put the token back above its short-term average. It would not, by itself, end the downward trend.
The descending resistance line also needs to give way before the chart improves materially. Above the EMA, the 0.00000540–0.00000560 band offers another test for buyers. A sustained move through that range could open a challenge toward $0.00000580.
That upper region matters because SHIB previously traded around 0.00000580–0.00000600. A return there would recover much of the recent decline. For now, price remains well below those levels.
The RSI will offer another clue if a rebound begins. A move back toward 50 alongside higher daily closes would support the case for recovering momentum. A drop toward 30, by contrast, would show sellers extending their advantage.
Rakuten’s giveaway is one thing, SHIB’s chart is another. The seminar is about a physical collectible and the chart is about trading and investor interest. Traders will be asking if $0.00000500 will hold or fail.
