 ▲ Shiba Inu (SHIB) / AI-generated image |
While the cryptocurrency market is experiencing an unprecedented plunge led by Bitcoin, Shiba Inu (SHIB) has reached the strongest support level in its history and is compressing its final momentum for a potential rebound.
According to cryptocurrency-focused outlet The Crypto Basic on February 6 (local time), Shiba Inu is currently trading around $0.00000582, down approximately 60.7% from its September 2024 high of $0.00001484. Crypto analyst Caro assessed that SHIB’s current price remains within the most important support zone in its five-year history, between $0.0000066 and $0.0000051. Caro noted that this is an exceptionally favorable period to accumulate Shiba Inu and suggested that a long-term trend reversal may be imminent.
From a technical analysis perspective, Shiba Inu has reached the lower support line of a descending channel and is entering the completion phase of a Gartley harmonic pattern. This pattern typically involves prices oscillating between highs and lows while building energy, often followed by an explosive rally after the final downward D wave. Caro forecast that SHIB is consolidating its base after absorbing supply around the $0.00001765 level, paving the way for a powerful breakout in the near future.
Market experts are also highlighting that Shiba Inu has previously defended this support level multiple times, demonstrating notable resilience. Analysts largely agree that the current price range offers an attractive risk-reward profile, with potential returns significantly outweighing downside pressure. In particular, while Bitcoin (BTC) is locked in a fierce battle around the $60,000 support level, Shiba Inu is seen as having established its own bottom and entered a stabilization phase ahead of the broader market.
However, indicators from on-chain data analytics firm CryptoQuant call for caution. A recent surge in SHIB holdings on exchanges suggests a higher likelihood of sell-side pressure rather than accumulation. This implies that retail investor sentiment remains subdued, and additional volatility may emerge before a decisive rebound takes shape. If the final line of defense at $0.0000051 fails, there is also a risk of entering an “air pocket,” a price decline zone with little underlying support.
The Shiba Inu ecosystem, led by marketing executive Lucie, is showing determination to overcome market uncertainty through strong community cohesion. If technological progress on the Shibarium network and ongoing token burn initiatives continue to provide support, a rebound from this historic support level could become a key event in the cryptocurrency market in the first quarter of 2026. Investors are closely watching for a clear shift in market direction while maintaining a balanced view between analysts’ optimism and on-chain selling pressure.
*Disclaimer: This article is for investment reference only, and no responsibility is assumed for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.*