 ▲ Shiba Inu (SHIB) / ChatGPT-generated image |
Shiba Inu (SHIB) has reached the fateful support level of $0.000006 after months of downward pressure, standing at the center of a massive battle between buyers and sellers that will determine its market survival.
According to crypto-focused outlet U.Today on February 14 (local time), Shiba Inu’s price has continued to trend downward below major moving averages, repeatedly testing the critical $0.000006 level. This zone has emerged as a key battleground where buying pressure seeking to stabilize the market clashes intensely with selling pressure aiming to maintain the broader downtrend. While the macro structure remains bearish, the recent pattern differs from the past in that the price has lingered within the same support band for an extended period, slowing the pace of decline.
Recently, candlestick sizes near the $0.000006 range have shrunk and slight rebound attempts have appeared, signaling buyers’ determination to defend the support line. Unlike previous patterns in which sharp drops were followed by further declines, this suggests that buyers have designated this area as a defensive zone. However, repeated tests of a support level can exhaust buying liquidity and ultimately weaken its strength, warranting caution among investors.
If selling pressure persists and the price breaks below $0.000006, downside volatility is likely to expand further. Conversely, if the current prolonged sideways movement serves as an accumulation phase for whales, it could lay the groundwork for a strong rebound alongside improving market sentiment. For Shiba Inu to break through short-term resistance and successfully rebound, defending the $0.000006 level is a prerequisite, accompanied by stable support from the broader digital asset market.
During Shiba Inu’s recent decline, trading volume temporarily surged, indicating that fear still lingers in the market. Investors are maintaining a cautious stance, closely monitoring market conditions rather than engaging in aggressive accumulation. As prevailing analysis suggests that volatility alone is insufficient to drive a long-term recovery without broader market support, global investors are watching closely to see whether Shiba Inu can defend this crucial support level and signal the beginning of a counteroffensive.
Disclaimer: This article is for investment reference purposes only and the publisher is not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.