Shiba Inu Slides 26% Toward Key $0.00000817–$0.00001078 Support Zone

Published: 2025-10-19 07:23:15 |

Shiba Inu (SHIB) has fallen 26% in recent weeks, reaching $0.00000984 on Oct. 18 as it approaches a key demand zone between $0.00001078 and $0.00000817. The SHIB demand zone previously sparked a 406% rally in early 2024. Despite the decline, on-chain indicators show steady accumulation: the Money Flow Index (MFI) stands at 44.17 and the Accumulation/Distribution (A/D) metric at 62.14 trillion SHIB. Spot netflows were negative throughout Q3, though Oct. 18 saw a $1.17 million inflow, while over $6.8 million in perpetual contracts closed, highlighting risk-off positioning. Buyers remain active around current levels, suggesting a potential rebound if Shiba Inu holds this support zone.

Bearish

Shiba Inu’s recent 26% slide toward its key $0.00000817–$0.00001078 support zone reflects a broader memecoin sell-off driven by negative spot netflows and $6.8 million in closed perpetual contracts. This bearish momentum mirrors early Q3 declines in memecoin sectors. Although the Money Flow Index and Accumulation/Distribution metrics indicate steady accumulation, the primary trend remains downward. Traders may position for a rebound at the demand zone, but the immediate market sentiment and liquidity outflows suggest ongoing bearish pressure. Historically, SHIB has only confirmed a bullish reversal after establishing clear support and positive netflows, which have yet to materialize.