Key Insights
- Shiba Inu trades close to $0.0000093 after defending a critical long-term support zone that previously triggered a strong 2024 rally.
- Technical indicators suggest bearish pressure persists, with key moving averages still positioned above the current price range.
- Sustained defense of the $0.0000090 level could attract renewed buying interest and potentially form the basis for a gradual market recovery.
Shiba Inu has once again found stability near its long-standing ultra-support zone, hovering around the $0.0000093 mark after briefly dipping below $0.0000090. This range has previously served as a foundation for strong rebounds, most notably in early 2024, when the token’s value surged nearly fourfold.
The current environment, however, shows a stark contrast to that earlier phase. Retail inflows and rising enthusiasm once fueled the 2024 recovery, but the broader market now faces weaker liquidity and fading speculative interest. This shift has left Shiba Inu under pressure, reflecting broader caution across the digital asset sector.
Technical Structure Remains Bearish
From a technical standpoint, the token remains below the 50-day, 100-day, and 200-day exponential moving averages, suggesting that SHIB continues in a bearish cycle. The Relative Strength Index hovers near 40, signaling potential exhaustion among sellers. Despite a slight rebound, the asset has yet to surpass any significant resistance level, with $0.0000105 marking the first major test for buyers.
Historically, the $0.0000090 to $0.0000093 range has attracted buying activity, and early signs of accumulation are visible once again. If on-chain data shows improving engagement and renewed speculative sentiment, this level could become a base for gradual recovery. A sustained defense above this zone may help stabilize short-term momentum and reduce downside risks.
Broader Outlook Remains Fragile
Despite modest recovery signs, the larger trend remains fragile. A clear drop below the ultra-support could erase the gains achieved during 2024 and drive a deeper pullback toward $0.0000075. Conversely, regaining higher ground above $0.000011 would mark an early sign of renewed strength. For now, the token’s ability to maintain stability near its critical base will determine its short-term direction.
