Support Emerges Amid 5% Decline as Investor Confidence Remains Steady

The Shiba Inu (SHIB) cryptocurrency has recently shown signs of stabilization after a period of significant price fluctuations, forming a consolidation range between $0.00001440 and $0.00001456.

This meme token experienced considerable selling pressure, with volumes soaring to 1.72 trillion during its peak decline; however, repeated tests of support around $0.00001440 revealed robust buyer interest.

Even with short-term price swings, analysis of blockchain activity indicates a substantial level of holder commitment, with over 1.13 million addresses retaining their investments for over a year, reflecting a strong belief in SHIB’s long-term potential.

Development within the Shiba Inu ecosystem is ongoing, highlighted by a major upgrade to the Shibarium blockchain, which aims to enhance decentralization. This move supports the team’s goal of increasing SHIB’s utility beyond merely being a meme.

Technical indicators are presenting a mixed picture, suggesting moderate bullish momentum, although a definitive breakout has not yet been confirmed. Projections from AI models predict SHIB could rise to $0.00003 by 2025, signaling a potential increase of 105.9% from its current value.

Key Points from Technical Analysis

• During the past 24 hours, SHIB recorded a notable decline of 5.4%, trading between a peak of $0.00001507 and a low of $0.00001424, yielding a volatility range of 0.00000083 (5.5%).
• A significant resistance level at $0.0000146 was identified during the 23:00 hour, supported by increased trading volume hitting 1.72 trillion, far exceeding the average for the previous day.
• Following a steep decline, SHIB established a consolidation range between $0.00001440 and $0.00001456. The robust support at $0.00001440 and consistent buyer interest suggest stability ahead of potential future movements.
• In the latest hour, SHIB encountered pressure, dropping from $0.00001448 to $0.00001440, marking a decline of 0.56%.
• Intense selling was noted between 13:54-13:57, with volume spiking to 16.45 trillion at 13:57, leading to a temporary low at $0.00001430.
• A brief rebound occurred at 14:01, with prices recovering to $0.00001441 and forming a possible support zone between $0.00001439 and $0.00001440, although bearish momentum persists, indicated by the failure to reclaim the $0.00001445 resistance level.