Shiba Inu (SHIB) is hovering around lower price regions, with analysts pointing to key support levels that could determine its next move.
This week has been one of the worst periods for Shiba Inu this year. Today, the price of SHIB has plummeted by 10%, dipping to $0.00001302. This marks Shiba Inu’s lowest price since September 2024.
Today’s dip worsens its monthly performance, now standing at a 32% loss for holders. Meanwhile, looking at the three-month chart, SHIB holders are nursing over a 50% loss on their positions. Notably, Shiba Inu’s downturn comes as Bitcoin revisited 2024 lows below $90,000.
With the week-long market-wide crash showing no sign of cooling off, crypto analyst Ali Martinez has suggested key levels SHIB holders should watch for a possible re-entry during the next major uptrend.
Shiba Inu Critical Support to Watch
In a tweet today, Martinez highlighted that SHIB may find support at $0.000012 or $0.0000094, based on Fibonacci retracement levels. This suggests Shiba Inu could dip even further from its current position around $0.000013.
Martinez shared a chart illustrating how SHIB has struggled to break past the $0.000018 to $0.000023 resistance range.
If SHIB fails to hold above current levels, a deeper correction toward $0.000012 appears likely. This level aligns with the 0.618 Fibonacci retracement level.
Meanwhile, if the bears dominate further, another breakdown could push SHIB to $0.0000094, aligning with the 0.786 Fibonacci level.
From the current price, this would mean an additional loss of 28% for holders. Considering Shiba Inu’s 2025 high of $0.000025, this would also translate to an astonishing loss of 62% just ten weeks into the new year.
SHIB Rebound Prospects
SHIB previously experienced a strong rally in early 2024, but recent price action points to a cooling-off period as buyers lose momentum. Meanwhile, some analysts are feeding investors’ hope that the recent price action is merely noise.
Community figure Tanzeel urged enthusiasts to zoom out and look at Shiba Inu’s performance over a broader timeframe. She cited Shiba Inu’s historical chart showing that the coin has gained 1,035,415% since its inception and up about 181,520% against Bitcoin within the same timeframe, offering hope amid widespread pessimism.
In a separate commentary, analytical resource Rose Premium Signals highlighted Shiba Inu’s potential recovery path once bulls later regain control.
They suggested SHIB has a huge rebound potential from its current low, first targeting $0.00002941, then heading to $0.00003738, and ultimately reaching $0.00004401 before losing momentum.
Notably, they hinge this promising prospect on SHIB quickly rebounding to $0.000022, dipping to $0.00001800, and then coming back with a much stronger wave to clear out major resistances.
A breakout above these levels could trigger a bigger move toward new highs! 🚀
If buyers step in, we can expect bullish momentum toward key resistance levels:
🎯 Target : 0.00004401 pic.twitter.com/ZoFWADeTzG
— Rose Premium Signals 🌹 (@VipRoseTr) February 27, 2025
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
