Price Analysis

Why Is Shiba Inu Coin Price Clawing Back As Altcoins Steady Bullish Theory?

Shiba Inu Coin price bounced back after support at $0.0000085 steadily held. If this uptick continues, SHIB bulls will make good of the impending breakout beyond $0.00001.
Published by
Why Is Shiba Inu Coin Price Clawing Back As Altcoins Steady Bullish Theory?

Shiba Inu Coin price is back on the move as altcoins stabilize after a gruesome last week. The crypto market turned highly volatile after Federal Reserve Chair Jerome Powell’s speech on Wednesday, which drilled holes in the hope for the first rate cut in March. In his remark, Powell said that it was too early to conclusively place the rate cut in March, suggesting that investors will have to wait longer.

Meanwhile, altcoins are strengthening against Bitcoin dominance which according to CoinMarketCap holds at 51.3% of the total $1.66 trillion cap. Most altcoins, including Shiba Inu Coin (SHIB), dumped significantly following the approval of the first spot BTC ETF in the US. The event turned out to be a buy the rumor sell the news affair, leaving investors withdrawn with some counting losses.

Crypto trader @ChiefraFba points investors to watch out for a breakout above resistance at $745 billion (altcoin market cap). This hurdle has been tested severally in the last week, with a potential breakout from a 3-week trendline resistance in the offing.

Shiba Inu Coin price was not spared as it corrected sharply from December highs of $0.000012 to $0.0000085. However, dips witnessed in January could soon be a thing of the past, if bulls complete their mission of sending SHIB above $0.00001.

Advertisement

Shiba Inu Coin Price Prediction: Can SHIB Extend Rebound Past $0.00001?

Boasting $5.3 billion in market capitalization, Shiba Inu is the 19th largest crypto, behind Internet Computer (ICP). As the second-largest meme coin SHIB commands a massive and dynamic community supporting products in the ecosystem such as ShibaSwap and Shibarium.

Its position in the market gives Shiba Inu Coin an advantage seeing that it is traded across many exchanges, allowing it to reach a larger audience.

A 14% increase in its 24-hour trading volume to $72 million underlines the growing interest among traders.

With a daily candle forming, Shiba Inu Coin has the potential to reach higher levels as this week progresses. An ascending trend line support currently ensures that SHIB does not drop further, thus reinforcing the bullish thesis.

Shiba Inu Coin price chart | Tradingview

The 200-day Exponential Moving Average (EMA) (the purple line on the chart) needs to transform into higher support to further tip the scale in the bulls’ favor. While such a move would be a step in the right direction for investors, it is unlikely to manage to reverse the trend and set Shiba Inu Coin on a profound trajectory.

Hence, a larger rebound above the red band would be the game changer cementing the bullish grip and clearing the path above $0.00001.

The bullish crossover in the Relative Strength Index (RSI) signals an incoming breakout. Traders should watch out for the RSI’s movement above the midline and toward the overbought region (above 70) as reinforcement for the potential price increase.

Consolidation between the green and red bands would be expected to overrule the breakout. During this period, investors can accumulate more SHIB speculating of a larger move in Q1.

Support areas like $0.000008 and $0.00007 will come in handy if overhead pressure intensifies, considering a potential sell-off if Genesis gets approval to sell over $1.6 billion held in different Grayscale products.

Related Articles

Advertisement

Share
John Isige

John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

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

Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity

The PEPE Coin price has returned to a crucial demand zone after a sharp decline,…

September 27, 2025
  • Price Analysis

Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing

The Solana price narrative continues to gain traction as market voices highlight both technical accumulation…

September 26, 2025
  • Price Analysis

Avalanche Price Could Surge to $50 as Transactions Jump 200%

Avalanche price has sunk into a correction after falling by 16% from its highest point…

September 26, 2025
  • Price Analysis

CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?

Chimpee, the project behind the hyped CHMPZ tokens, combines the best of both worlds. It…

September 26, 2025
  • Price Analysis

Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M

Ethereum price is showing signs of resilience after recent turbulence, with renewed attention on whale…

September 26, 2025
  • Price Analysis

HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?

The HYPE price outlook has gained attention after a market analyst, Ali Charts, remarked that…

September 26, 2025