Shiba Inu Price Prediction: 24,000 New Wallets Join As SHIB Presses The CRT Range High At $0.0000630

Shiba Inu trades at $0.0000623 on May 5, pressing the CRT range high at $0.0000630 for the third time this week as 24,000 new wallets joined the network in seven days and the memecoin sector sees its strongest momentum since late 2025 with DOGE and $LUNC both posting major moves around it.

$SHIB Is At The CRT Range High For The Third Time This Week

$SHIB Daily Price Action (Source: TradingView)

The CRT range runs from $0.0000561 to $0.0000630. Price has been pressing the range high repeatedly without a clean daily close above it, and the descending channel from October 2025 runs through the same zone, making $0.0000630 the line between a channel breakout and another rejection.

The Supertrend at $0.0000561 is bullish and rising below price. The SAR at $0.0000612 adds a second support layer beneath the range low. Both indicators are pointed bullish while price tests the ceiling, which is the setup that resolves fast once a daily close above $0.0000630 lands.

The CRT range measures 69 pips. Three times that projects to $0.0000837, which aligns with the November 2025 consolidation zone overhead.

$SHIB Key levels for May 6

Supertrend and CRT low: $0.0000561

SAR support: $0.0000612

Current price: $0.0000623

CRT range high: $0.0000630

CRT measured target: $0.0000837

What 24,000 New Wallets And Steady Whales Actually Mean

$SHIB added 24,000 wallet addresses in the week ending May 4, one of the strongest growth weeks recently, bringing total unique addresses above 1.58 million. The top 100 addresses held steady near 61% of supply through the same period.

Related: Terra Classic Price Prediction: $LUNC Enters Top 100 After 150% Monthly Surge On Binance’s Largest Burn

New retail buyers are entering while large holders are not selling into them, a combination that tightens available supply gradually rather than through a single event.

The Burn Numbers Look Better Than They Are

The 24h burn rate is up 86.95%, peaking near 2.8 million tokens early in the session before fading to near zero by end of day. The 7-day chart shows burns hit 12 million on May 1, collapsed through May 2 and 3, briefly recovered, then dropped again.

The weekly rate is down 46.47%. Against a circulating supply in the hundreds of trillions, the daily volumes remain negligible on their own. The burn story matters here because it is running alongside a key technical setup, not because of the numbers alone.

$SHIB Derivatives: Longs Getting Stopped Out At The Range High

$SHIB Derivatives Data (Source: Coinglass)

Volume rose 29.86% to $137.64M while OI climbed 1.53% to $59.86M, fresh positioning building at the CRT range high. The long/short ratio at 0.7209 leans short while OKX accounts lean long at 2.55.

Longs absorbed $52.73K in 24h liquidations against just $1.73K for shorts. Buyers are getting stopped out at $0.0000630 on every attempt. Current OI at $58.13M sits far below the early 2026 peak near $500M.

$SHIB Price Prediction: May 6 Outlook

Upside: $SHIB closes above $0.0000630 on a daily basis, triggering the CRT measured move toward $0.0000837. Supertrend and SAR both bullish, 24,000 new wallets last week, and memecoin sector momentum all back the move. One daily close above the range high is all that separates the current setup from a confirmed breakout.

Downside: $0.0000630 holds again and $SHIB fades toward the SAR at $0.0000612. Losing the SAR puts the CRT low at $0.0000561 back in view. Longs absorbing almost all liquidation pain at current levels keeps pressure building on buyers until the close above $0.0000630 arrives.