Peter Smith
Shiba Inu is sitting at a crossroads right now. After a solid rally pushed the meme coin higher, SHIB has pulled back to test crucial support at the 1370 level. The good news? It's holding.
Technical Picture: Support Doing Its Job
This bounce is catching traders' attention, especially after CRYPTO SHIB highlighted the setup. If SHIB can crack resistance near 1480, we might see the next leg up unfold.
The charts tell a clear story. SHIB shot up to 0.00001483 before running into selling pressure and retreating. But instead of collapsing, the token found solid ground at 1370 - exactly where bulls needed it to hold. This support zone has now been tested and respected, which is always a good sign for continuation patterns.
A clean break above that 1483 high could open the door to 1600 or beyond. The key is whether buyers have enough firepower to push through what's likely to be heavy resistance.
What's Driving the Action
Three main factors are keeping SHIB in play:
- Retail enthusiasm: Meme coins are hot again, and SHIB remains a favorite among retail traders looking for quick moves
- Market backdrop: The broader crypto market is finding its footing, allowing speculative money to flow into higher-risk plays
- Ecosystem progress: Shibarium developments and ongoing token burns are giving the community something to rally around
Peter Smith
