Shiba Inu traders are eyeing potential buying opportunities after the token successfully tested its critical support level. Recent market action suggests a short-term rally is possible, fueled by increased investor interest and strong ecosystem activity. While the broader crypto market remains bearish, Shiba Inu has shown signs of resilience. 4-week price drops have led to a 20% retracement from November’s highs, with SHIB trading near $0.000008 after testing support at $0.00000741-$0.00000767. Analysts attribute the recent bounce to a surge in token burn rates and increased ecosystem activity. 5% jump in open interest suggests renewed market action, with traders paying close attention to how the token reacts near key support levels.