Shiba Inu Approaches Major Rebound Zone — Will SHIB Bounce

Renowned crypto analyst Coinvo recently highlighted that Shiba Inu is approaching a critical level. 

Despite stating that Shiba Inu was nearing a “major resistance level,” the accompanying chart suggests otherwise. In the chart, the analyst highlighted $0.00001150 as a critical support level for Shiba Inu this year. 

Each time SHIB reached this point, buying pressure usually emerged, countering the sell-off and preventing deeper declines. The chart reveals that in March, after hitting this level, SHIB rebounded to approximately $0.000014 before correcting. 

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A similar pattern occurred in April, when the token again tested the level and bounced back to around $0.00001550. Most recently, in late June, SHIB revisited the support zone amid heightened market volatility following the armed conflict between Israel and Iran. Despite the selling pressure, Shiba Inu once again recovered, climbing to nearly $0.00001570 in July. 

Shiba Inu Nears Crucial Support Level Again 

Currently, the canine-themed token is once again approaching this level, raising questions about whether history will repeat itself. A decisive bounce from this support could set the stage for renewed bullish momentum, potentially driving SHIB’s price upward, as observed on several occasions this year. 

However, if support fails to hold, Shiba Inu investors may experience accelerated sell-offs, paving the way for deeper corrections. At the time of Coinvo’s analysis, SHIB was trading at around $0.00001170. It has rebounded slightly to $0.00001190, reflecting a 24-hour increase of 0.68%. 

Selling Pressure Concerns Ease As Exchange Reserves Hit 2-Year Low 

Interestingly, concerns about potential sell-offs have eased following reports that SHIB’s exchange reserves have fallen sharply. It recently hit a two-year low of 84.49 trillion tokens. At the time of writing, the figure had dropped further to 84.34 trillion SHIB.

This decline suggests reduced selling pressure, as fewer tokens are available on exchanges, potentially lowering the risk of Shiba Inu breaking below the $0.00001150 support level. 

Bullish Expectations for October 

Meanwhile, Shiba Inu community analyst Shib Spain speculated that the long-anticipated altcoin season could begin this month.

UPTOBER IS COMING 🚀#Altseason pic.twitter.com/R7jV6zOB7q

— Shib Spain (@ShibSpain) September 28, 2025

October has historically been a strong month for SHIB, with the token recording gains of 833% in 2021, 10.4% in 2022, 6.04% in 2023, and 2.46% in 2024. As October 2025 gets underway, Shiba Inu has already climbed 0.56% within the first few hours of the month.