The price of Shiba Inu has been fluctuating around the $0.000010 psychological level recently, facing strong selling pressure. Despite this volatility, SHIB remains surprisingly stable at approximately $0.0000113 as of press time. This crucial support zone has historically kept the meme coin afloat. 📈 🔒
Chart analysis shows SHIB repeatedly tested this level in the past year, establishing a horizontal baseline that currently acts as its last line of defense before another zero is added. Each test was followed by a bounce, suggesting accumulating investors are optimistic for long-term gains. 💪
Even amidst significant market volatility and altcoin crashes, SHIB has maintained stability. 🙌 The Relative Strength Index (RSI) has dipped into oversold territory (35), indicating potential for a rebound if market sentiment improves further. 📈
Additionally, trading volume is declining, suggesting easing sell pressure. 📉 While the overall market continues to stabilize following Black Monday’s sell-off triggered by concerns about global tariffs, SHIB is one of the altcoins struggling to gain momentum.
The next significant resistance level for SHIB lies at or around $0.0000128 and $0.0000138. If there’s a successful breakout above these levels, the 50-day moving average (currently trading near $0.000015) could be retested.
While caution is still warranted, SHIB may avoid adding another zero if it can hold its ground above critical support and bearish momentum subsides. 💪