Eseandre Mordi
Shiba Inu (SHIB) has slipped back to its long-standing support range between 0.000007–0.000010 USDT, a zone that has historically served as a springboard for significant price movements. With the token testing this level once again, market watchers are debating whether it can pull off another comeback or if the momentum has finally run out.
Testing Historic Support Once Again
Analyst Cryptocium points out that this price range has acted as a launchpad multiple times before, most notably during the 2021 meme coin frenzy and again in 2024. The bi-weekly chart shows three distinct touches of this support area, each followed by substantial rallies in previous cycles.
However, recent tests suggest the buying pressure isn't as strong as it once was. The token is now sitting in what traders call the red accumulation zone, a critical juncture where price either finds its footing or breaks down further.
Current Market Dynamics
The broader crypto landscape has shifted. While earlier SHIB rallies rode the wave of meme coin hype, today's market is more focused on AI tokens and Layer-1 infrastructure projects. This shift has left SHIB with subdued momentum despite ongoing token burns and ecosystem developments. Trading volume remains thin and volatility has cooled off considerably.
Key levels worth monitoring include support at 0.000007–0.000010 USDT, short-term resistance around 0.000015 USDT, and medium-term resistance between 0.000025–0.000030 USDT. If SHIB manages to hold above the support zone, there's room for a rebound. But a close below 0.000007 could open the door to deeper losses.
Eseandre Mordi
