Shiba Inu Holds Strong Above Key Support, Analyst Predicts Rally Toward $0.000020

Shiba Inu (SHIB) maintains $0.000013 support, with analyst Martinez noting the potential for a rebound to $0.000020.

Shiba Inu’s price has experienced heightened market fluctuations, with its price currently at $0.00001337, marking a 1.7% decline in the past 24 hours. The token briefly dipped to $0.00001277 before recovering, demonstrating significant intraday volatility. Despite this, SHIB has remained above the critical $0.000013 support level, which has played a key role in stabilizing its price.

Over the past 14 days, SHIB has dropped 14.2%, extending its year-over-year losses to 55.2%. Despite these declines, slight gains of 0.7% in the past hour and 0.6% over the last week indicate potential stabilization.

Amid the volatile times for the memecoin, analysts continue to monitor key support and resistance levels to determine the token’s next move.

A price chart shared by expert analyst Ali Martinez highlights SHIB’s ability to sustain its position above $0.000013. If the token holds this level, an increase in buying pressure could drive prices higher. 

#ShibaInu $SHIB is holding strong above the critical $0.000013 support. If buying pressure picks up at this level, a rally toward $0.000020 could be in play! pic.twitter.com/YjfA61A1tk

— Ali (@ali_charts) March 7, 2025

Historical trends reveal a significant rally in November, which pushed SHIB above the $0.000032 resistance level before a correction followed. Martinez suggests that maintaining the current support level could lead to a potential rebound toward $0.000020.

Technical Indicators and Long-Term Projections

Elsewhere, technical analysis by Javon Marks presents a broader perspective on SHIB’s potential price movement. The chart indicates a prolonged downtrend following its previous all-time high.

However, two breakout points suggest a shift in trend, signaling a move away from bearish conditions. The first breakout led to a moderate rally, while a subsequent retest of previous support reinforced its significance.

A hidden bullish divergence has also been identified, characterized by a higher low in price while indicators like RSI or MACD register lower lows. This pattern suggests potential bullish momentum, which may support further price increases.

Marks sets a primary upside target at $0.000081, projecting a possible 503.13% surge from its current price.

Sequential Price Targets and Ownership Trends

Another analyst, CryptoElites, outlined sequential price targets, placing SHIB’s next potential levels at $0.000085171, $0.000183312, and $0.000472905. The analysis suggests a positive outlook as Bitcoin dominance decreases, potentially creating a favorable environment for alcoins like SHIB.

Ultimately, ownership data from IntoTheBlock supports this perspective, highlighting an increase in long-term holders by 1.08%.

A 0.42% increase in mid-term holders further suggests that some recent buyers are transitioning to longer holding periods. Meanwhile, short-term trader activity has declined by 32.17%, reducing speculative movements and contributing to market stability.