Shiba Inu (SHIB) Price Prediction: SHIB Rebounds from Key Support—Will It Hit $0.00002?

Despite recent volatility across the broader crypto market, SHIB has shown resilience, prompting renewed optimism among traders and analysts who believe the token may be preparing for a breakout.

Recent on-chain data revealed that crypto whales collectively purchased 874 billion SHIB tokens as the asset plunged to its lowest price in over a year. This sizable accumulation has sparked speculation about SHIB’s next major move, with many interpreting the buys as a signal of confidence in the token’s long-term potential.

The Large Holder Netflow of Shiba Inu. Source: IntoTheBlock

“Large holders often buy when fear is high,” one analyst noted, adding that such behavior typically precedes significant trend reversals. The whale activity comes amid the continued development of the Shiba Inu ecosystem, including the expansion of Shibarium, its layer-2 network, and increased engagement with NFTs and other Web3 ventures.

At press time, SHIB was trading around $0.00001137—having recovered from recent lows and marking a roughly 4.69% daily gain. More importantly, the token continues to defend the $0.000010 support zone, a level that has repeatedly proven to be a launchpad for rebounds over the past year.

Shiba Inu (SHIB) price is holding above the key support at $0.000010. Source: TradingView

Technical charts suggest strong accumulation at this level, indicating a steady demand floor. “Each time SHIB has tested $0.000010, it has managed to bounce,” said one trader. “That tells us buyers are watching this area closely.”

Several indicators point toward a potential recovery. The Relative Strength Index (RSI) has dipped to 35, placing SHIB in oversold territory. This could invite fresh buying interest, especially if broader sentiment across the market begins to improve.

Technical indicators signal bullish momentum for Shiba Inu’s (SHIB) price. Source: Dmac95 on TradingVIew

The MACD indicator, while showing signs of slowing momentum, has produced multiple bullish crossovers in recent sessions. However, the price remains capped by resistance at $0.00001180. A close above this level, analysts say, would be a positive trigger for further gains toward the $0.0000128 and $0.0000138 regions.

If SHIB can maintain volume and break through these resistance levels, the 50-day moving average around $0.000015 becomes the next key target.

Adding another twist to the outlook is SHIB’s burn activity. According to Shibburn data, the token’s burn rate surged by over 2 million percent in just 24 hours—albeit with a relatively small 13.3 million SHIB removed from circulation. Weekly figures showed 191 million SHIB burned, down 82% from the prior week.

A successful reversal from the current support could propel the SHIB price above $0.00002. Source: Behdark on TradingView

“The volume is down, the burn is down, but somehow the price is still here,” a market watcher remarked, underscoring the odd stability SHIB has maintained amid broader selling pressures.

While SHIB’s ability to hold key support is encouraging, it still faces hurdles before attempting a run toward $0.00002. A decisive move above $0.00001180, sustained by strong volume, would be the first confirmation of a bullish trend resumption.

Shiba Inu (SHIB) price chart. Source: Brave New Coin

In contrast, failure to maintain momentum could result in a retest of lower supports around $0.00001080 or even the psychological $0.000010 mark. A breach below this line could expose the token to further downside pressure.

For now, Shiba Inu remains in a delicate but promising position. If whales continue to accumulate and technical signals align, SHIB may yet defy the odds and reclaim higher levels.