Peter Smith
Shiba Inu has caught traders' attention as it consolidates near an important support zone.
Chart Analysis: Support Zone Under the Microscope
Recent observations from Shib Spain highlight that $SHIB is "holding strong the lows," hinting that this level might serve as a launchpad for the next move up.
Right now, $SHIB is trading around $0.00001172, bouncing repeatedly within a well-defined support box. This zone has absorbed selling pressure multiple times, showing that buyers are stepping in consistently. The chart's projected path suggests a bullish scenario could unfold if this support holds firm.
If buyers keep defending this area, the first test on the upside would likely be around $0.00001250. From there, momentum could carry price toward $0.00001450, which would signal a meaningful shift in market sentiment.
Why This Support Zone Matters
For meme coins like Shiba Inu, support levels carry extra weight because retail traders often fuel explosive price swings. Each bounce from this range reinforces the idea that it's become a psychological floor, which tends to attract fresh speculation and buying interest.
Shiba Inu's community remains highly engaged, and the token consistently benefits from speculative inflows whenever meme coins come back into focus. With improving liquidity across altcoins and a more favorable crypto environment, the odds of a near-term rally increase—provided SHIB doesn't lose its footing.
Key Levels to Monitor
- Support range: $0.00001150 – $0.00001170
- First resistance: $0.00001250
- Major target: $0.00001450
The technical setup suggests Shiba Inu might be wrapping up its base-building phase. If support holds and volume picks up, the next rally could catch people off guard. That said, a drop below the support box would flip the script and open the door to further downside.
Peter Smith
