Shiba Inu has seen notable price pressure as part of a broader altcoin correction. Despite this short-term weakness, market expert CJ has pinpointed a potential entry point for bullish investors, suggesting the current decline may offer a favourable long-term opportunity.
Recent Price Movement and Context
As of July 23, SHIB has registered a decline of approximately 7.86%, placing it on track for its largest single-day drop since May 30. This downward movement has eroded a portion of the 16% gains it recorded last week. SHIB is not alone in this pullback, as multiple altcoins have experienced similar losses amid the overall market cooldown.
Despite the drop, CJ remains optimistic. In a recent update, the analyst explained that Shiba Inu remains on his radar due to what he described as a favourable macro setup. Although he did not elaborate on the broader trend, his comments imply a longer-term bullish stance on the token.
Still on my watchlist because I like the macro structure but I'm more focused on DOGE at the moment.
With that said, I'd consider a long if we retrace to the mid-range demand. Alerts set. pic.twitter.com/lTuk8stSFh
— CJ (@CJ900X) July 23, 2025
Analyst Highlights Buy Zone Between $0.0000142 and $0.0000128
CJ revealed that he has placed alerts within a specific price band that he considers ideal for opening a long position. According to his technical analysis, the mid-range demand zone, which lies between $0.0000142 and $0.0000128, presents a strong opportunity for accumulation.
This range has emerged as a key level over the past several months. Since February 2, SHIB has largely traded within a broader price channel, bouncing between its established high and low points.
The asset has tested support at the bottom of this range on at least two significant occasions, first in April at $0.00001029 and again in June at $0.00001004. Meanwhile, a notable resistance level was reached on May 12, when SHIB climbed to $0.00001765 before encountering selling pressure.
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These movements define the broader range, with the lower boundary at $0.00001004 and the upper resistance near $0.00001764. CJ’s highlighted entry zone, falling in the middle of this channel, suggests confidence that current price weakness may be temporary.
As of the time of analysis, SHIB was trading slightly below the upper end of this mid-range but had yet to breach the lower limit, indicating that it remains within the zone the analyst sees as favourable for long exposure.
Potential Upside from Current Levels
CJ’s forecast points to a potential reversal from the current support range. If SHIB holds this zone, he anticipates a breakout from the months-long trading channel. His chart outlines a projected upward movement targeting levels above $0.0000190, representing a possible 36% increase from SHIB’s current price of approximately $0.00001395
If SHIB can overcome the resistance between $0.0000140 and $0.0000190, it could advance toward $0.000024, with an extended target near $0.000035. These projections are consistent with recent on-chain data, which shows a concentration of supply around these price points.
While Shiba Inu has recently seen selling pressure, technical analysis suggests that the current price zone could provide a strategic opportunity for long-term investors. With key support levels holding and a potential breakout on the horizon, traders are watching closely for signs of renewed bullish momentum.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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