Short-term support: SHIB holds $0.0000076–$0.0000083, showing temporary stability for buyers.
Resistance pressure: Overhead resistance and negative indicators limit upside potential for bulls.
Volatility signals: Whale activity and capital inflows suggest possible price swings ahead.
Shiba Inu — SHIB, has seen a calm period after weeks of decline, giving traders a moment to catch their breath. The memecoin gained 7.53% in market value over the past week, showing short-term resilience. Yet, the coin remains down 60% on a Year-To-Date basis, reminding holders of long-term challenges. This mix of temporary strength and lingering losses keeps traders cautious while looking for signs of a bigger move ahead.
https://twitter.com/Indicator_Hive/status/1998395960821436514 Short-Term Support Holds, but Resistance Persists
SHIB has recently found support between $0.0000076 and $0.0000083, keeping its short-term structure intact. Price action now trades within an ascending channel, contrasting the weakness from early November. Buyers are trying to gain control, but Bull Bear Power remains negative, showing sellers still influence the market. The Supertrend indicator adds another layer of caution, with the red line sitting above the price.
On-chain data from Santiment reveals heightened whale activity, with the highest transfers since June 6. Exchanges also saw a net increase of 1.06 trillion SHIB, pointing to strong interest from large holders. This activity suggests that the market could experience elevated volatility soon. Traders should watch for sudden spikes or drops, as whales often influence short-term price swings. The daily chart shows SHIB approaching the apex of a descending triangle, indicating a potential decisive move.
Holders’ Sentiment still trends negative, reflecting uncertainty among long-term investors. However, the Money Flow Index remains above the neutral 50 line, showing inflows of capital from buyers gradually re-entering the market. This combination of signals creates a careful balance between potential recovery and ongoing pressure from sellers.
Bulls Face Challenges Amid Rising Volatility
If buying pressure strengthens, SHIB could move toward $0.0000093, hitting minor resistance from earlier in the month. A more substantial rally, fueled by whale activity or positive market sentiment, might push the coin toward $0.000010, a psychologically critical level for traders. On the flip side, sellers could still intensify activity near triangle resistance.
A breakdown below support around $0.0000075 could drag SHIB lower. Traders must monitor both the ascending channel and the descending triangle patterns, as these technical formations often dictate short-term market moves.Despite current stability, bulls face a challenging environment. The memecoin’s performance depends on whether buyers can sustain pressure and overcome strong resistance levels.
For now, SHIB demonstrates resilience but cannot erase the steep YTD losses without significant momentum. Investors and traders should remain alert, ready for sudden swings in either direction as volatility rises. Shiba Inu holds short-term support after a 7.53% weekly gain.Sellers still influence the market, limiting upside potential.
