Shiba Inu Price Prediction: Can SHIB Bulls Defend This Key Support?

Published by
Shiba Inu Price Prediction: Can SHIB Bulls Defend This Key Support? 

Shiba Inu price would soon retest weekly support of $0.000023, suggesting a reversal opportunity for traders. The meme coin forming a symmetrical triangle pattern in a longer time frame preparing for its upcoming rally. Moreover, the recent announcement about Richmond and Shiba Inu partnership, along with the American movie theater chain (AMC) accepting SHIB.

Advertisement

Key technical points

  • The SHIB price plummets below the 200-day EMA
  • The SHIB price tumbled by 11% in the last three trading session
  • The intraday trading volume in the Shiba Inu coin is $1.2 Billion, indicating a 29% gain.
Shiba Inu Price Analysis

Source- Tradingview

On March 1st, the Shiba Inu (SHIB) buyers attempted to breach the combined resistance of $0.000027 and the 50-day EMA. However, the intense supply pressure reverted the altcoin forming a long-wick rejection candle.

The bearish reversal displayed three consecutive red candles, registering an 11% fall in the last three days. However, the altcoin steadily approaching the immediate support of $0.000023 with decreasing volume activity indicates weakness in selling momentum. A reversal sign at this support would suggest the traders are accumulating at this dip, which would drive the Shiba Inu price 25% high, hitting the overhead resistance trendline.

Moreover, the SHIB chart shows a symmetrical triangle pattern formation in the daily time frame chart. The pattern’s support trendline would bolster the buyers to rebound from the $0.000023 level and begin the next bulls cycle.

However, a breakout and closing beyond the converging trendlines would signal the next directional move in SHIB price.

Advertisement

Technical Indicator

The flattish 50-and-200 EMA suggests a short-term sideways rally. However, the coin price trading below these EMA indicates the sellers have the upper hand.

The Moving average convergence divergence shows the MACD and signal line has recently nosedived below the neutral zone, projecting a negative sentiment. 

  • Resistance levels- $0.000025, and $0.000027
  • Support levels are $0.000023 and $0.00002.
Advertisement
Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds

Cardano price crash continued today, Oct. 30, after the Federal Reserve delivered a hawkish cut.…

October 30, 2025
  • Price Analysis

Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal

Bitcoin price dropped sharply, sliding 4% in the past 24 hours to $108,398. The decline…

October 30, 2025
  • Price Analysis

Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies

The Pepe Coin price has drawn renewed attention as analysts and whales hint at growing…

October 30, 2025
  • Price Analysis

Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?

Solana price remains resilient above the $190 mark, showing signs of bullish momentum despite recent…

October 30, 2025
  • Price Analysis

Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence

Pi coin price has rebounded strongly, breaking its multi-month descending structure and targeting the $0.65…

October 30, 2025
  • Price Analysis

Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level

Ethereum has overtaken Bitcoin in institutional treasuries, signaling a notable change in digital asset accumulation…

October 29, 2025