Strong buying pressure and key support levels are stabilizing SHIB after a turbulent week
Shiba Inu (SHIB) saw a sharp 13.8% weekly decline, but recent data suggests that the meme coin may be staging a short-term recovery as trading volumes surged past 19 billion tokens. After a volatile correction, SHIB is now hovering near key technical support zones, hinting at renewed buyer confidence.
The week began with a steep retracement from $0.000012362 down to $0.000011985, reflecting broader market caution and investor risk-off behavior. However, SHIB managed to stabilize above the $0.000012000 support threshold, consolidating gains before making a slow but steady push upward.
“Buyers showed resilience near critical demand levels, leading to breakout volume exceeding 19 billion tokens,” one on-chain analyst noted.
Shiba Inu Price Action and Support Dynamics
The valuation range between recent highs and lows settled at $0.000003104, representing a 25% fluctuation between peak and trough. SHIB tested intermediate support at $0.000012125 multiple times before finally lifting toward $0.000012186, suggesting the formation of a potential higher low structure.
“Such volume concentration near support levels usually precedes upside continuation, provided macro sentiment remains stable,” added the analyst.
Price action during the most recent session peaked at $0.000012198, briefly breaking above near-term resistance, but not without encountering selling pressure. Despite this, the consolidation appears bullish, especially with sustained demand across major breakout zones.
Market Outlook for SHIB
Shiba Inu’s recovery is being closely watched by traders eyeing the $0.000012300–$0.000012500 range as the next breakout target. While macro volatility remains a factor, strong transactional momentum and consistent defense of key levels could help SHIB regain lost ground in the coming days.
SHIB’s rapid bounce following sharp declines suggests market participants are still confident in its near-term price potential. Whether this can lead to a sustained trend reversal will depend on broader crypto sentiment and volume continuity.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.