Due to a major whale movement, the Shiba Inu market has been under the scanner. A whale recently transferred 8.18 trillion SHIB worth $195.1 million from Crypto.com. All of this happened as the broader meme coin market fell off a cliff, and some thought it couldn’t get any worse, which is why there are speculations about future prices in this sense.
Despite all the whale activity, SHIB is still under pressure market structure-wise. Bitcoin’s (BTC) failure to bounce back past $100,000 has increased volatility, making SHIB’s bounce back even more challenging. On the daily timeframe, SHIB still battles to stay afloat, trapped within a defined short-term range.
Despite the December slump, the $0.00002 support zone has done its job and held. However, bearish momentum still appears to be in play, according to the Awesome Oscillator. These signals show a fragile bull market catalyst while the selling strain continues.
SHIB Struggles to Break Key Resistance Level
While its price remains below a critical retracement level of $0.00002325 on the daily chart, Shiba Inu still mostly flies through the sky above the current resistance line. This resistance has repeatedly held out against bullish attempts to move higher since December 2024. After late November, SHIB had a price correction, from which it has since been trading in a narrow range.
At the moment, the $0.00002 level is acting as a fundamental support zone, stemming further losses. But the Awesome Oscillator shows pretty weak momentum, which adds to the recovery’s complexity. The Chaikin Money Flow (CMF) reflects neutral capital inflows; therefore, there is little in the way of buyers using the fuel to push prices higher.
This mixed sentiment is no help for the SHIB bulls chasing a breakout. Without a surge, SHIB could be stuck at $0.0000228 resistance for a very long time. Traders are wary and watch for these levels as possible signals.
Short-Term Range Presents Opportunities
While the short-term range on SHIB is clearer on the 4-hour chart, Bitcoin led the market to decline as the range lows at $0.000021 experienced temporary breakdowns. However, a quick recovery from these lows indicated possible strength and a possible bullish reversal.
A buy signal would be a deviation under the $0.000021 level on Monday, followed by a rebound. This recovery suggests that the price may be ready to target the range highs at $0.0000246. However, some resistance at $0.0000228 could keep buyers flat if the upward momentum isn’t sustained.
There are mixed signals in this range, and traders are advised to approach it cautiously. Stoplos of losses has been below $0.0000202, which matched lower timeframe gaps at $0.0000208. This strategy allows you to ride the stock market upward while postponing confirmation of a breakout until receiving confirmation from a downward move.
SHIB Faces Risks Below $0.0000208 Support Zone
But capital flows and momentum shifts will have the potential for a bullish breakout. If it can break out over $0.0000228, we could see further gains towards $0.0000246. Conversely, if the price drops below $0.0000208, it will invalidate bullish scenarios, and more losses could be on the way.
On the one hand, market participants remain cautiously bearish as intra–day positives are met with weak momentum indicators and neutral inflows. The $0.00002 support zone is crucial in maintaining this structure for now. Before traders commit to positions, they will look for clear signals from volume and momentum indicators.
All in all, though, Shiba Inu seems on the way to recovery, yet still faces a few hurdles. There are some short-term opportunities, but one has to be careful in this volatile market.
FAQs
What triggered the recent speculations about Shiba Inu’s future price?
A major whale movement worth 8.18 trillion SHIB ($195.1 million) sparked speculation about the Shiba Inu’s future price.
What resistance level is Shiba Inu struggling to break?
Shiba Inu is struggling to break the critical retracement level at $0.00002325.
How has Shiba Inu performed after the December slump?
Despite the December slump, SHIB holds its support at $0.00002 but remains under bearish pressure.
