Victoria Bazir
Shiba Inu (SHIB) just dodged a psychological bullet. After a brutal decline temporarily added a fifth zero to its price, the meme coin managed to claw its way back above $0.00001. While that's brought some relief to holders, the victory might be short-lived—selling pressure is building, and the technical signals aren't looking great.
SHIB Price Recovers After October's Wild Ride
October started strong for Shiba Inu. The whole crypto market was rallying in what traders called "Uptober," and SHIB was riding that wave of optimism. But everything changed on October 10 when U.S.-China trade tensions flared up again.
The fallout was brutal. Shiba Inu crashed from around $0.000012 down to $0.000007448—adding that dreaded fifth zero for the first time in over a year. But the meme coin didn't stay down long. By October 11, it had surged back to $0.00001072.
Since then, SHIB has been dancing around the $0.00001 level, occasionally dipping below but always bouncing back. The community sees this as a win—keeping four zeros feels like holding the line. On October 21, the token jumped again from $0.000009876 to $0.00001055. Right now, it's trading at about $0.00001003, up 1.54% in 24 hours. Still, that's nearly 70% below December's high of $0.00003329.
Exchange Activity Hints at Trouble for Shiba Inu (SHIB)
Here's where things get concerning. Between October 20 and 22, Shiba Inu's exchange reserves jumped from 82.09 trillion to 82.14 trillion SHIB. When tokens move to exchanges, it usually means people are getting ready to sell.
The chart isn't helping either. A descending triangle pattern has formed—and that's typically bad news. This bearish setup has its support at $0.00001052, a level that's been tested repeatedly since April. If that breaks, SHIB could plummet to $0.000006, bringing back that fifth zero everyone's trying to avoid.
Despite the warning signs, Shiba Inu is still hanging tough above $0.00001 for now. But with exchange reserves climbing and bearish patterns forming, this recovery looks fragile. The next few weeks will show whether SHIB can hold the line or if another drop is coming.
Victoria Bazir
