Shiba Inu (SHIB) Tests Key Support Zone — Rebound Targets vs. Breakdown Risk
Shiba Inu (SHIB) is trading near a historically important support zone between $0.0000067 and $0.00000521 after volatility and a >32% correction from an early‑January peak of $0.00001009. The token remains in a longer‑term downtrend from its March 2024 high of $0.0000456, forming lower highs and lower lows. Trading has calmed, and analysts — notably TradingView user KlejdiCuni — point to the historical September 2021 low near $0.00000510 that preceded a sharp rally to the October 2021 all‑time high of $0.0000885. If the current support holds, cited upside targets are $0.0000170, $0.0000320 and $0.0000420, though no timelines were provided. Analysts describe the setup as a long‑term accumulation opportunity but caution that timing is uncertain and the support may fail; a break below the zone could accelerate declines. Traders should weigh accumulation strategies against broader market risks and use position sizing and stop management. This is informational only and not financial advice.
Neutral
The news is neutral for SHIB because it highlights a key historical support zone that could act as a launchpad for a sizeable rebound if it holds, but it also underscores the token’s ongoing downtrend and the real risk of a breakdown. Short-term impact: mixed — price may consolidate or see a bounce if buyers step in at the support, producing short-lived rallies to the cited targets ($0.0000170, $0.0000320, $0.0000420). However, the absence of confirmed bullish momentum and the token’s pattern of lower highs/lower lows increase the chance of further declines if the support fails. Long-term impact: conditional — if the support proves durable and broader market sentiment turns positive, significant upside is possible (as historical precedent shows), but traders will need patience and risk management. Therefore, the immediate implication for traders is to view the area as a potential accumulation zone while preparing for both scenarios with defined entries, stop losses, and position sizing.