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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.