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Shiba Inu (SHIB) Price Faces Rejection at $0.000010995, What’s Next?

Shiba Inu has failed to break through the descending channel pattern, but analysts remain bullish for SHIB price rally ahead.
Published by
Bhushan Akolkar
Updated 17 Jul, 2025 | 06:57:54 AM UTC
Shiba Inu (SHIB) Price Faces Rejection at $0.000010995, What’s Next?

The world’s second-largest memecoin Shiba Inu (SHIB) is once again facing rejection at crucial resistance levels at $0.000010995. At press time, the SHIB price is trading 1.18% up at a price of $0.000009959 with a market cap of $5.89 billion.

What Happens to Shiba Inu Next?

Cryptocurrency analyst Ali Martinez has observed that Shiba Inu (SHIB) has been trading within a descending parallel channel since September 2022. At present, $SHIB is challenging a critical resistance level situated at the upper boundary of this pattern, approximately at $0.000011.

A conclusive weekly closure above this threshold could indicate a bullish breakout, potentially driving $SHIB towards $0.000014. Conversely, a rejection at this level might lead to a retracement to $0.000008 before the anticipated bullish breakout.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Bhushan Akolkar
Updated 17 Jul, 2025 | 06:57:54 AM
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