Shiba Inu stabilizes after a recent decline as analysts highlight potential upside while traders monitor key resistance levels for confirmation.
Shiba Inu (SHIB) trades near $0.00000565, showing a 3.9% increase over the past 24 hours as buying activity returns to the market. The intraday chart shows a steady climb toward roughly $0.0000058 before mild selling pressure pushes the price slightly lower.
Despite the pullback from the session’s peak, SHIB maintains support around the $0.0000056 range, signaling short-term consolidation after the upward move.
The asset holds a market cap above $3.3 billion, while 24-hour trading volume approaches $190 million, reflecting sustained market participation. Overall, the chart indicates that SHIB is stabilizing after recent declines, with traders closely monitoring whether the token can maintain momentum in the near term. Can SHIB maintain momentum?
Shiba Inu Price Analysis
On the 4-hour chart, Shiba Inu attempts to stabilize after a sustained decline. The recent bounce begins from the lower Bollinger Band around $0.00000530, where buyers step in and push the price back toward the higher bands. This movement indicates short-term recovery momentum, although the price still struggles above the middle band range.
For SHIB to recover, it needs to close above the middle Bollinger Band, which sits near $0.00000555. A sustained move above this level could open the path toward the upper band near $0.00000580, where the next resistance forms.
Meanwhile, the Advance-Decline Line moves around 1,602, reflecting a modest improvement in market breadth. The indicator’s slight upward movement suggests that more assets in the broader market are advancing than declining, which can support short-term sentiment.
Analyst Predicts 2x–3x Upside for SHIB
Elsewhere, crypto market commentator Shib Knight says Shiba Inu could see 2x to 3x upside in the short term, highlighting what he views as a potential opportunity in the current market structure.
The chart shared by the analyst shows SHIB trading below key resistance areas around $0.00001003 and $0.00001492, levels that previously acted as major price barriers. A strong recovery toward these zones could significantly expand upside potential if buying momentum strengthens in the market.
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.
