Shiba Inu posted a 2.52% gain in the last 24 hours, reaching $0.000006025 at the time of writing, ahead of Friday's Consumer Price Index announcement. The meme coin's movement reflects broader positioning across cryptocurrency markets as traders anticipate the Federal Reserve's preferred inflation metric.
Markets are pricing in a 2.5% consensus for the CPI reading. The Bureau of Labor Statistics will release the data on Friday, February 13. Institutional investors have shifted their focus away from the date's cultural associations toward the report's economic implications.
A reading at or below consensus could strengthen the current rally in alternative cryptocurrencies. Higher-than-expected inflation would likely trigger profit-taking across risk assets.
Technical Structure Supports Near-Term Advance
SHIB has built a consolidation zone between $0.0000055 and $0.000006 over recent sessions. This range has attracted consistent buying interest. The token previously broke down from $0.0000068 without significant selling volume, indicating holder retention.
The asset tracks Ethereum's price movements with moderate correlation. This relationship positions SHIB as a leveraged play on broader smart contract platform sentiment. Ethereum's recent stability has provided a foundation for SHIB's recovery.
Volume patterns during the recent consolidation show reduced seller pressure. Large holders have maintained positions rather than distributing into strength. On-chain data confirms this behavioral shift among wallets holding between 100 million and 1 billion tokens.
Resistance appears near $0.0000065, where limit orders have accumulated. A break above this level would open the path toward $0.000007. Traders are monitoring Friday's volatility for potential breakout confirmation.
Macro Context Drives Short-Term Direction
The CPI release carries weight for cryptocurrency markets beyond traditional risk assets. Bitcoin and Ethereum have both demonstrated sensitivity to inflation prints in recent months. SHIB's correlation to these major assets amplifies its response to macro data.
Current positioning suggests traders expect a favorable outcome. Funding rates across perpetual futures markets have remained positive. This indicates sustained demand for long exposure heading into the announcement.
Options markets show increased activity around Friday's expiry. Implied volatility has risen for near-dated contracts. Traders are preparing for sharp moves in either direction following the 8:30 AM EST release.
The Federal Reserve's policy trajectory depends partly on inflation trends. Softer CPI readings would support expectations for rate cuts in 2025. This scenario typically benefits growth-oriented assets and speculative cryptocurrencies.
