Shiba Inu (SHIB), one of the most popular meme coins in the crypto space, has faced increased selling pressure recently, raising concerns about its short-term price trajectory. After a strong rally in late 2024, SHIB entered a downtrend, struggling to hold key support levels. With prices hovering around $0.00001389, investors are questioning whether a reversal is imminent or if further declines loom.
Technical indicators like the Relative Strength Index (RSI) suggest SHIB is nearing oversold conditions, potentially signaling a bounce. However, strong resistance levels above current prices challenge bullish momentum. This analysis explores SHIB’s price structure, key support/resistance zones, and future scenarios to assess recovery potential.
Current Performance of Shiba Inu (SHIB)
SHIB’s daily chart reveals a gradual downtrend since its late 2024 peak. The current price (~$0.00001389) reflects a 4.12% decline in the latest session, with lower highs and lows confirming bearish dominance. Key observations:
- Support Zone: $0.00001300 (recently tested). A breakdown could trigger deeper declines.
- Resistance Zone: $0.00001500 (persistent selling pressure). A breakout here could shift momentum.
Is SHIB Approaching Oversold Conditions?
The RSI (~30.90) nears the oversold threshold (30), historically preceding short-term bounces. However, sustained RSI levels below 35 without buying pressure may prolong bearish consolidation.
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Key Support and Resistance Levels
Critical Support:
- $0.00001300**: Breach risks a drop to **$0.00001000 (next major support).
Immediate Resistance:
- $0.00001500**: Breakout could propel SHIB toward **$0.00001850–$0.00002000.
Can SHIB Recover and Retest Higher Levels?
Bullish Scenario:
- Reclaiming $0.00001500** with volume could target **$0.00001850+.
- Oversold RSI + support bounce may fuel reversal.
Bearish Risks:
- Failure to hold $0.00001300** may accelerate declines to **$0.00001000.
SHIB Price Outlook: Next Few Weeks
SHIB remains bearish structurally, but oversold RSI hints at a potential bounce. Key levels to watch:
| Scenario | Trigger | Price Targets |
|---|---|---|
| Bullish | Break $0.00001500 | $0.00001850 → $0.00002000 |
| Bearish | Lose $0.00001300 | Drop to $0.00001000 |
FAQ Section
Q: Is SHIB a good buy at current prices?
A: Potential exists for a bounce from oversold RSI, but confirmatory signals (e.g., volume surge) are crucial before entering.
Q: What’s the worst-case scenario for SHIB?
A: A breakdown below $0.00001300 could lead to a 25% decline toward $0.00001000.
Q: How long might a recovery take?
A: Short-term bounces could unfold within days, but sustained recovery requires overcoming $0.00001500 resistance.
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Final Thoughts
While SHIB shows oversold bounce potential, traders should monitor $0.00001300 support** and **$0.00001500 resistance for directional cues. Strategic entries with tight risk management are advised.