Shiba Inu’s native token SHIB defied economic headwinds to post a strong rebound, gaining over 5% in intraday trading and re-establishing a new resistance level. The popular memecoin demonstrated surprising resilience despite global macroeconomic tensions and crypto market uncertainty.
Mid-Day Sell-Off Followed by a Powerful Recovery
SHIB experienced a sharp mid-day dip, dropping to $0.0000139, before rebounding strongly during the 22:00 hour, surging 3.0% on nearly 900 billion in volume. The token ultimately pushed toward a high of $0.0000147, forming a 5.24% trading range in the past 24 hours.
Strong volume support at lower levels triggered a bullish reversal.
This price movement indicates a clear double-bottom pattern, a classic bullish signal that typically suggests short-term price strength.
New Resistance and Market Momentum
According to CoinDesk Research, SHIB established resistance at $0.0000147, while continuing to test key price levels despite a short consolidation phase.
- Support established: $0.00001455
- Resistance tested: $0.0000147
- Peak intraday volume: 30.15 billion
Bullish momentum remains in place despite late-session volatility.
In the final trading hour, SHIB’s price swung between $0.00001453 and $0.00001463, before settling back to $0.00001457 under modest selling pressure.
Long-Term Holders Remain Steadfast
On-chain data reveals that over 1.13 million addresses have held SHIB for more than a year, a testament to growing community confidence in the token’s long-term utility and potential.
SHIB’s long-term holder base continues to grow, signaling strong investor conviction.
Geopolitical & Economic Factors at Play
The global crypto market remains on edge amid:
- US-China trade tensions
- Inflationary pressures and central bank shifts
- Rising geopolitical instability in Europe and the Middle East
Despite these challenges, SHIB’s strong rebound underscores its increasing role as a speculative yet resilient digital asset in times of uncertainty.
Looking Ahead: Can SHIB Hit $0.000020?
With a bullish reversal in place and rising trading interest, analysts suggest a potential retest of the $0.000020 level, especially if broader crypto sentiment turns positive.
Watch for confirmation above $0.0000147 to validate further upside.
Conclusion
Shiba Inu’s SHIB token once again showed that it’s more than just a memecoin. With solid volume, technical strength, and a committed user base, SHIB continues to be one of the most watched altcoins in the market.