Key Takeaways
- Resistance Zone: 11 trillion SHIB tokens held at a loss create strong resistance between $0.000013 and $0.000014.
- Bullish Momentum Fading: MACD indicators suggest weakening upward momentum, with key EMAs converging.
- Potential Decline: Increased selling pressure could push SHIB to $0.000011 or below $0.000010 in extreme scenarios.
SHIB’s Recovery Challenges
Resistance from Unrealized Losses
The In/Out of Money Around Price (IOMAP) reveals a critical hurdle for SHIB’s price rebound. Approximately 16,000 addresses hold 11 trillion SHIB purchased between $0.000013 and $0.000014—now at a loss. This volume creates a supply wall, making further gains difficult unless buying demand surges.
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Technical Indicators Turn Cautious
- MACD Analysis: The daily chart shows declining bullish momentum as the 12 EMA and 26 EMA approach convergence.
- Awesome Oscillator (AO): Negative values signal bearish dominance.
- RSI: Below 50, indicating weaker buying interest.
Price Projections: Bearish vs. Bullish Scenarios
Downside Risks
- Immediate Support: $0.000011 (previous consolidation zone).
- Worst-Case Scenario: Breakdown below $0.000010 if market sentiment worsens.
Upside Potential
- Fibonacci Target: A breakout could retest $0.000016 (0.786 Fib level).
- Long-Term Goal: Rally to $0.000020 with broader crypto market recovery.
FAQs
1. Why is SHIB struggling to climb above $0.000014?
The concentration of tokens bought at higher prices creates selling pressure, acting as resistance.
2. What does the MACD convergence mean for SHIB?
It suggests bullish momentum is fading, potentially leading to a sideways or downward trend.
3. How low could SHIB drop?
If support at $0.000011 fails, prices may test sub-$0.000010 levels.
4. Are there any signs of a bullish reversal?
Yes, but only with a surge in buying volume and positive MACD crossover.
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Conclusion
While SHIB’s recent 7.5% bounce offers hope, technical and on-chain data highlight significant resistance ahead. Traders should monitor key levels ($0.000011 support, $0.000014 resistance) and market trends for clearer signals.
Disclaimer: This content is for informational purposes only and not financial advice. Cryptocurrency investments are volatile; conduct independent research before trading.