- Shiba Inu trades below key support at $0.00000830, testing buyer strength.
- Reclaiming support could push SHIB toward higher resistance zones up to $0.000010.
- Broader market trends, especially Bitcoin, will influence Shiba Inu’s next price move.
Shiba Inu currently trades just below a key support level, and reclaiming this zone could set the stage for a strong recovery. The meme coin recently slipped under the $0.00000830 demand area after a period of sideways action. Any push back above this level could help SHIB retest higher resistance levels and regain momentum. Traders are watching closely as even small price moves could trigger larger swings.
Shiba Inu Below Key Lower Timeframe Support
In 24 hours as of writing, Shiba Inu had outperformed many top altcoins despite broader market weakness. Data from CoinMarketCap shows a 2.6% gain, making SHIB the second-best performer among the top 25 cryptocurrencies by market cap during this period. Despite this, the token still trades below the crucial $0.00000830 support zone.
On shorter timeframes, the 15-minute chart reveals that SHIB hovered around this level for several days before a sharp decline triggered by external events. A drop from $0.0000084 on January 18 to $0.00000745 on January 19 erased about 11% in minutes. Since then, the token has attempted to recover, climbing to around $0.0000080, though the support has yet to hold firmly.
This demand area between $0.0000083 and $0.0000084 has historically acted as a solid base. SHIB bounced from similar levels multiple times over the past week. For instance, on January 12, the price rose roughly 10% after touching $0.00000828, reaching $0.00000912 the following day. A similar rebound occurred on January 15 before retracing to recent lows.
Potential Upside If Support Holds
If Shiba Inu regains this level, several higher resistance areas could come into play. The first notable supply zone sits between $0.00000860 and $0.00000880. Beyond that, traders may look toward $0.0000090 and $0.000010 as potential targets. Recovering above these levels could indicate a broader rebound, but caution remains necessary.
Momentum in SHIB also depends on larger market conditions. Bitcoin and other major altcoins need to stabilize before meme coins can mount a strong rally. While Shiba Inu shows resilience, external factors could influence the recovery trajectory. Additionally, reclaiming the support level does not guarantee sustained gains. Uncertainties in the market could still limit upward movement or trigger renewed volatility.
Traders watching Shiba Inu should consider both historical patterns and current momentum. The demand zone around $0.00000830 remains a focal point for buyers. A successful bounce could trigger a chain reaction toward higher supply areas. Conversely, failing to reclaim this support may extend the sideways or bearish trend. Monitoring SHIB closely over the coming sessions will reveal which scenario is more likely to unfold.
