Saad Ullah
Shiba Inu (SHIB) has grabbed attention once again as it stabilizes near recent lows. For meme coins, these moments often decide whether we're looking at further decline or a strong bounce back. Recent analysis suggests SHIB might be gearing up for an upward move if current support holds.
SHIB Holds Ground at Critical Support
According to trader SHIB Mortal, SHIB is "holding strong the lows" around the $0.00001150–$0.00001170 zone.
The 4-hour chart shows multiple successful tests of this range, marking it as a significant area where buyers keep showing up.
Technical Patterns Point to Potential Rally
The chart presents several noteworthy signals. SHIB has repeatedly defended the $0.00001150 region, with buyers consistently stepping in at this level. There's also a visible "W-pattern" or double bottom structure forming, which often precedes reversals. If momentum picks up, resistance levels at $0.00001300 and $0.00001450 could come into play, representing a potential 15–20% gain from current prices. This technical setup aligns with the view that SHIB could be positioning for a stronger upward move.
What's Driving the Bullish Outlook
Several factors support a bullish case. Meme tokens feed on speculative interest, and SHIB remains a favorite among retail traders. The ongoing adoption of Shibarium continues to strengthen SHIB's long-term story in the DeFi space. Additionally, with Bitcoin showing strength, altcoins like SHIB are catching some of that renewed investor confidence.
Saad Ullah
