Shiba Inu Holds $0.00001 Support Amid Bearish Pressure
Shiba Inu held its key $0.00001 support after a steep mid-October sell-off triggered by US–China trade tensions, a Bitcoin pullback and profit-taking. The meme token plunged from $0.000012 to $0.00000745 on October 10 before rebounding to $0.0000107 on October 11 and trading near $0.0000105 by October 21. Despite this recovery, Shiba Inu remains about 70% below its December peak and has a market cap near $6.9 billion.
On-chain metrics point to intensified whale selling and rising exchange reserves, signaling growing sell pressure. Whale balances jumped from 21 billion to 92 billion tokens, while exchange reserves climbed steadily over October. Technical charts form a descending triangle with support around $0.0000105. A decisive close below this level could push Shiba Inu toward $0.000006.
Traders should watch the $0.00001 floor, whale flows and exchange inflows. Renewed demand at support may stabilize the token, but a breach of key levels amid bearish momentum could lead to further downside.
Bearish
Intensified whale selling, rising exchange reserves and a bearish descending triangle pattern point to growing downside risk for Shiba Inu. In the short term, the $0.00001 support acts as a key barrier—renewed buying could limit losses, but a break would likely trigger stop-loss orders and accelerate selling. Over the longer term, persistent sell pressure and the lack of fresh bullish catalysts suggest muted prospects for a sustained recovery, making the overall impact on SHIB price bearish.