Peter Smith
⬤ Shiba Inu has dropped back to its major support zone between $0.0000080 and $0.0000060, an area that's been crucial for years. This price range has consistently acted as a launching pad for big rallies. Right now, SHIB is trading just above this band, and the market is watching closely to see if history repeats itself.
⬤ Looking at the chart, this same support level has sparked some impressive runs: a massive 1,237% jump, followed by moves of 148%, 574%, and most recently 382%. Each time SHIB touched this zone, buyers stepped in aggressively. The chart clearly marks this as "Strong Support," with a warning note at the $0.0000060 bottom saying "I don't like to hold below" - showing just how important that floor is. If SHIB breaks upward, resistance levels sit at $0.0000257, $0.0000386, and around $0.0000812.
⬤ The chart shows potential percentage gains if SHIB follows its past patterns, though no breakout has happened yet. As long as the token stays above $0.0000060, there's room for another accumulation phase that could lead to a multi-month rally. The repeated bounces from this exact zone explain why traders are paying such close attention right now.
⬤ This matters because major support areas like this often decide whether a coin consolidates, crashes lower, or kicks off a new bull run. SHIB's ability to hold this level multiple times has made it a key indicator for the entire memecoin sector. If the support continues holding, it could shift sentiment across similar high-risk tokens and influence how traders approach the broader crypto market.
Peter Smith
