- Shiba Inu price faces a stiff supply zone, extending from $0.0000293 to $0.0000326, halting the uptrend.
- If SHIB shatters this barrier, a 25% uptrend could emerge but failure could lead to a 24% retracement.
- A run-up could see the meme coin collect liquidity above $0.0000392.
Shiba Inu price has seen impressive gains over the past week that face the threat of getting undone. The run-up is currently facing a massive hurdle that could make or break the meme coin.
Shiba Inu price faces a decisive moment
Shiba Inu price rose a whopping 75% over the past week as it broke out of a nearly two-week consolidation range. This uptrend was a ripple effect of the bullish momentum emanating from Bitcoin.
As impressive as this run-up was, Shiba Inu price is currently facing a supply zone, extending from $0.0000293 to $0.0000326. Investors can expect SHIB to consolidate around this area and probably retest the weekly support level at $0.0000283. If Shiba Inu price manages to stay above this level, there is a good chance the rally will continue.
SHIB/USDT 1-day chart
Supporting the possibility of an extension of the rally for Shiba Inu price is the recent uptick in daily active addresses from 5,841 to 10,770 over the past four days. This 84% hike in addresses indicates that investors are interested in SHIB at the current price levels.
SHIB DAA
Adding a tailwind to the potential bullish outlook is the recent growth in the number of large transactions worth $100,000 or more. Such transfers serve as a proxy for institutional investment interest and have increased by 56% from 488 to 761 over the last month, suggesting a bullish outlook.
SHIB large transactions
On the other hand, if SHIB slices through $0.0000283, it will trigger a steep descent to stable support levels at $0.0000233. A breakdown of this barrier will invalidate the bullish thesis and suggest a retest of the demand zone, extending from $0.0000158 to $0.0000193. Here, buyers will have another chance at a bull rally.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Bitcoin consolidates ahead of MicroStrategy Q1 earnings, strategic Bitcoin reserve deadline
Bitcoin price is extending its consolidation streak, trading around $95,000 on Wednesday, as traders await a decisive breakout. MicroStrategy’s Q1 earnings release and the approaching deadline for the Strategic Bitcoin Reserve have the potential to move BTC price.

Chainlink price offers mixed signals as supply outside of exchanges soars but network activity declines
Chainlink's supply outside exchanges has surged to 803.38 million from 778.87 million in under two months. LINK network activity declines, with new and active addresses falling from a recent peak.

Ripple Price Prediction: XRP price uptrend toward $3 looks steady
Ripple (XRP) price hovers at $2.24 at the time of writing on Wednesday as bulls try to prevent the pullback from its April peak of $2.36 from extending further. If XRP holds above the immediate support at $2.21, a reversal could soon ensue.

THORChain announces integration of XRP stagenet ahead of the mainnet network launch
THORChain announced on Tuesday that its stagenet development of its Ripple (XRP) integration is nearing the final step, with mainnet activation imminent. This integration enhances THORChain’s economic model by increasing swap activity and protocol fees.

Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.