Shiba Inu at Major Decision Point—This Crucial Support Would Decide the Next Direction

Amid a broader bearish trend, Shiba Inu lies at a crucial support area, and how it reacts will determine its next price direction.

Shiba Inu sits at a critical price level, following a failed attempt to move higher. A push to higher prices on Wednesday faced a severe sell-off, dragging prices to the current zone, which represents a make-or-break point for the meme coin.

Key Points

• Shiba Inu has continued to follow a prolonged downward structure on the weekly chart, a trend that began after the asset reached its historic peak of $0.00008854 in 2021.
• Recently, SHIB declined into a crucial historical support region between $0.00000626 and $0.00000535, a decisive area for the token.
• If Shiba Inu holds above the lower boundary near $0.00000535, the support region could still trigger a recovery to $0.00000800, $0.00001100, and potentially $0.00001400.
• A price closing below $0.00000535 on the weekly timeframe with strong volume would spark a move to the historical support band between $0.00000350 and $0.00000280.

Shiba Inu at the Edge

TradingView analysis from CryptoNuclear shows that Shiba Inu has continued to follow a prolonged downward structure on the weekly chart, a trend that began after the asset reached its historic peak of $0.00008854 in 2021. 

Since then, price behavior has repeatedly produced lower highs and lower lows, reflecting persistent selling pressure across the broader market cycle. From 2022 to now, every upward attempt has struggled to overcome key resistance areas, resulting in a series of short-lived rebounds that preceded lower levels. 

Due to this pattern, the broader structure continues to reflect a market controlled largely by sellers. Instead of forming a new upward trend, rallies have repeatedly stalled before reaching previous highs.

Recently, Shiba Inu declined into a crucial historical support region between $0.00000626 and $0.00000535, an area that previously triggered strong reactions during previous market phases.

Although this zone has served as a key demand level in the past, recent bearish price trends have repeatedly tested it, weakening its strength. Consequently, the market now sits at a decisive point where the next direction could shape the midterm outlook for Shiba Inu.

This Critical Support Zone Could Decide the Next Direction

The analysis highlighted that if Shiba Inu holds above the lower boundary near $0.00000535, the support region could still trigger a recovery. In that scenario, a strong weekly close above $0.00000626, accompanied by visible buying activity and long lower wicks, would suggest that buyers are effectively defending the zone.

Such a reaction could allow the price to revisit nearby resistance levels around $0.00000800, then the $0.00001100 region, and potentially the $0.00001400 area where previous breakdowns occurred. SHIB would have to increase by 44%, 98%, and an impressive 152% to reach these price marks, respectively.

The analyst views any upward movement while the broader lower-high structure remains intact as likely a temporary recovery. For a stronger structural shift to occur, Shiba Inu would eventually need to break above those resistance levels and form higher highs.

Bearish Scenario if Shiba Inu Breaks Down

On the other hand, if the price closes below $0.00000535 on the weekly timeframe and the move is accompanied by strong volume, the current support would effectively fail.

In that case, the market could move quickly toward the next historical support band between $0.00000350 and $0.00000280, representing a 37% and 49.5% correction.

For now, Shiba Inu remains positioned at a critical decision point. Increased buying activity and broader market stability would aid bulls in defending the decisive support level.