Shiba Inu Nears Key Support: Trader Urges 'Buy More, You Won't Regret It'

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Shiba Inu is nearing a major support level, with sideways action likely before its next breakout phase.
Strong fundamentals and Shibarium development are fuelling long-term optimism despite recent weakness.
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Shiba Inu SHIB/USD is approaching a critical support zone, and some traders are calling it one of the best buy-the-dip opportunities before the next move higher.

What Happened: Crypto analyst Pepe is Friend points out SHIB is trading around $0.00001164, following a 9.33% weekly decline marked by a bearish structure of lower highs and lower lows. Still, the $6.7 billion market cap zone has previously served as strong support (last seen in April 2024), sparking optimism for a bounce or consolidation.

On the upside, the $10 billion market cap, approximately $0.00001696, remains key resistance, a level it failed to break in May 2024. A breakout above this zone could ignite a major leg higher for the meme coin.

The analyst advises, "Stay confident and keep holding, or even buy more SHIB," adding that current prices likely won't last long and that holders "won't regret it."

Another analyst cited by The Crypto Basic outlined two paths for Shiba Inu:

In a bullish scenario, a bounce from current support could push SHIB to $0.00002174–$0.00002418 (up to 100% upside).
And in a bearish scenario, a drop below $0.00001054 could lead to further declines toward $0.00000630.

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Also Read: Shiba Inu on Verge of a Breakout as Whales Make Bold Moves

Why It Matters: IntoTheBlock data shows Shiba Inu's large transaction volume narrowed by 50.2%, but daily active addresses increased by 30% in a single day. Transactions greater than $100,000 dropped from 48 to 19. On the other hand, Shibariumscan data shows daily transactions increased from 4.59 million to 4.65 million in a single day.

Also, IntoTheBlock data shows that only 10% of SHIB in circulation is in profit, roughly 8.04 trillion tokens (worth around $1.13 billion), while nearly 90% are held at a loss or breakeven, suggesting that selling pressure is already exhausted and accumulation may be underway.

The $0.000011 support level, held by 222,450 wallets owning 43.8T SHIB, is now seen as critical to near-term stability. A break below could spark panic selling, but holding here may trigger a swift reversal.

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