Shiba Inu Drops 93% Yet Eyes 1000% Rebound Potential
- Price Range Consolidation: Shiba Inu is currently trading at approximately $0.000006046, having plummeted over 93% from its October 2021 peak of $0.0000885, indicating a prolonged consolidation phase amid a bearish market.
- Technical Support Analysis: SHIB is hovering near the bottom of a descending channel, which has historically acted as a strong support level; if this support holds, it could lead to a price rebound towards $0.000010, representing an increase of over 80%.
- Market Sentiment Recovery: Open interest in Shiba Inu futures has surged by 7.4% in the past 24 hours, suggesting a revival of enthusiasm in the derivatives market and indicating potential short-term price volatility ahead.
- Long-Term Holding Trend: Over 507 billion SHIB has been transferred from exchanges to private wallets in the past day, typically interpreted as a shift towards long-term holding; if this trend continues, SHIB could target a long-term price of $0.000070, reflecting an almost 1000% increase from current levels.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000505 | 0.00000542 | 0.00000574 | 0.00000611 | 0.00000643 | 0.0000068 | 0.00000712 |
| Fibonacci | 0.00000542 | 0.00000568 | 0.00000585 | 0.00000611 | 0.00000637 | 0.00000654 | 0.0000068 |
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