Shiba Inu (SHIB), one of the most popular meme coins in the crypto space, has been facing increased selling pressure in recent weeks, raising concerns about its short-term price direction. After experiencing a strong rally in late 2024, SHIB has since entered a downtrend, struggling to maintain key support levels. With the price currently hovering around $0.00001389, investors are wondering whether this decline will continue or if a reversal is imminent.

Technical indicators, such as the Relative Strength Index (RSI), suggest that SHIB may be approaching oversold conditions, which could trigger a potential bounce. However, the presence of strong resistance levels above current prices poses a challenge for the bulls. This article provides a detailed analysis of SHIB’s current price structure, key support and resistance zones, and possible future scenarios to determine whether Shiba Inu is poised for a recovery or further downside.

How Is Shiba Inu (SHIB) Currently Performing?

Shiba Inu (SHIB) has been experiencing a gradual downtrend after reaching a local peak in late 2024, as seen in the daily chart. The current price hovers around $0.00001389, marking a 4.12% decline in the latest session. This suggests that bearish momentum continues to dominate, with lower highs and lower lows forming over the past several weeks.

The support and resistance levels drawn on the chart highlight key areas where price action has historically reacted. SHIB has recently tested a strong support zone around $0.00001300, but the failure to sustain above it could trigger further declines. Conversely, if the price rebounds from this level, we could see a short-term recovery.

Shiba Inu Price Prediction: Is SHIB Price Approaching Oversold Conditions?

One critical indicator to consider is the Relative Strength Index (RSI), which is currently around 30.90. This level is very close to the oversold threshold (30), indicating that SHIB might be nearing a potential reversal zone. Historically, whenever the RSI has dropped near this level, SHIB has seen short-term bounces, suggesting that a relief rally could be on the horizon.

However, a single oversold signal doesn’t guarantee an immediate price reversal. If the RSI continues to hover below 35 without any strong buying pressure, SHIB might remain in a bearish consolidation phase before any significant uptrend resumes.

—> Click here to Trade SHIB during the crypto crash

What Are the Key Support and Resistance Levels?

The current key support level for SHIB price is $0.00001300, which has been tested multiple times. A clear breakdown below this level could expose SHIB to further losses, potentially dragging it down toward $0.00001000, which represents the next major support zone.

On the other hand, the resistance level stands at $0.00001500, where sellers have consistently stepped in. A strong breakout above this resistance could shift momentum back in favor of the bulls, pushing the price toward the next resistance near $0.00001850.

Can Shiba Inu Price Recover and Retest Higher Levels?

For a bullish scenario, SHIB needs to reclaim the $0.00001500 resistance level, which would indicate a potential shift in momentum. If buyers step in and push the price higher, a move toward $0.00001850 or even $0.00002000 becomes possible in the short term.

However, failure to hold the current support zone could lead to further declines, making it crucial for traders to watch how SHIB reacts near $0.00001300 in the coming days. A strong bounce from support with increasing volume would signal a potential trend reversal, whereas continued weakness could confirm further downside.

Shiba Inu Price Prediction: What Is the SHIB Price Outlook for the Next Few Weeks?

Shiba Inu remains in a bearish structure on the daily chart, but oversold conditions suggest a potential short-term bounce. The next few sessions will be critical in determining whether SHIB can hold above its key support zone or break lower into a deeper correction.

• Bullish Case: If SHIB maintains support and breaks above $0.00001500, the next targets would be $0.00001850 and $0.00002000.
• Bearish Case: If SHIB loses $0.00001300 support, it could drop further to $0.00001000, making it crucial for bulls to defend this area.