Shiba Inu (SHIB) gained 3.31% over the last 24 hours, trading within a tight range. Support stands at $0.00001263, resistance at $0.00001287 with market sentiment guiding its next move. Investors and traders are closely monitoring for potential breakout or continued consolidation.
In February 2025, Shiba Inu (SHIB) experienced a strong price rally, driven by growing investor interest and positive sentiment in the cryptocurrency market. The price surged to a monthly peak of $0.000017, reflecting solid buying momentum. However, resistance emerged at this level, leading to a pullback. By the end of the month, SHIB had stabilized around $0.00001621, indicating a consolidation phase where buyers and sellers were relatively balanced. While bullish momentum persisted, the asset struggled to maintain higher price levels due to selling pressure.
As March progressed, SHIB faced downward pressure, dropping to approximately $0.00001278 by mid-month. This decline from February’s peak signaled a market correction. Several factors contributed to this pullback, including shifting investor sentiment, broader market trends, and profit-taking by traders after February’s rally. The decline suggests that buyers remain hesitant at higher levels, contributing to price weakness. However, this correction does not necessarily indicate a long-term bearish trend, as market cycles often include such phases before potential recoveries.
Despite the recent drop, SHIB retains the potential for recovery. A bullish engulfing pattern has emerged on the weekly chart, suggesting that buying interest remains intact. Additionally, SHIB’s market capitalization is still around $7.53 billion, underscoring its continued relevance in the crypto space. If buyers regain confidence, the price could stabilize and trend upward again.
SHIB’s next price movements will depend on critical support level at $0.0000118 and resistance level at $0.000013. If the price reclaims key resistance zones, an upward trend could resume. Conversely, if bearish pressure persists, further declines may occur. Investors should closely monitor market conditions to assess whether SHIB is poised for recovery or a deeper correction in the coming weeks.
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 urged to do in-depth 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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