Shiba Inu (SHIB) stages a short-term rebound amid its multi-month consolidation phase, fueling hopes of a major rally.
Following Bitcoin’s latest rally above $107,000 on Tuesday, SHIB and several altcoins recovered nicely to regain mild momentum.
As several SHIB holders anticipate a full-blown bull run, market commentator James Waynn has identified some key factors and support levels the meme token must hold for further upside.
Shiba Inu Key Support Levels
Shiba Inu price has been on a decline since hitting $0.00003 in December 2024, fueled by the broader bearish state of the crypto market. Specifically, the meme token has declined by nearly 29% over the past 90 days, recording a modest 52% year-to-date decrease.
However, in a Tuesday X post, Waynn called attention to SHIB’s latest price recovery. The token rebounded above the $0.00001 level after having dipped to $0.000008432 on November 4.
Specifically, SHIB rallied to a high at $0.00001032 on November 7 before retracing to $0.000009864 at the time of writing. This translates to a 9.73% gain in SHIB price in the past 7 days.
According to Waynn, buyers must hold the $0.000008 – $0.00009 support level for any further upside in SHIB’s price. Conversely, losing this crucial level could push the SHIB price to fall below $0.000007, a level last seen in October.
Notably, Waynn shared an even higher projection for SHIB in a separate update. As earlier reported, he predicted that Shiba Inu could hit $0.10 and make new millionaires. However, this is a multi-decade price outlook according to analyses from prediction platforms like Telegaon.
Shibarium Development and Ecosystem Growth
Beyond technical indicators, the widely followed analyst highlighted a few factors that could contribute to a positive SHIB price action in Q4 2025. According to him, positive Shibarium development and ecosystem growth could propel SHIB’s price higher.
Recall that the Shibarium bridge was exploited in August, resulting in hackers draining over $3 million from the project’s ecosystem. This development had an adverse impact on the price of Shiba Inu ecosystem tokens, including SHIB, Bone Shibaswap (BONE), and BAD.
Despite reopening the Shibarium bridge in October, hack victims still face a delay in repayment. Notably, K9 Finance had previously offered 20 ETH to the hacker in exchange for returning the stolen KNINE tokens. However, the exploiter declined the offer.
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.
