Shiba Inu (SHIB) Price Analysis

Once-popular meme coin Shiba Inu (SHIB) is maintaining key support at $0.00001159. The price action around this level suggests SHIB could be due for a “God candle.”

The price of SHIB has pressed into this support for weeks, with each dip quickly absorbed, forming a stubborn floor that is critical before any potential new zero is added to the price.

On the daily timeframe, SHIB’s price volatility has decreased, with shrinking candles and a tightening range at $0.00001159. Notably, the RSI has shown bullish divergences — the indicator rising while the price moves sideways or down. This often indicates that buyers are increasing while selling pressure diminishes, especially near a strong support base, which can lead to a rapid price increase.

Despite sellers attempting to push prices lower throughout summer, each attempt has lost momentum as volumes decreased.

Price Scenarios for Shiba Inu (SHIB)

On the upside, initial resistance is around $0.00001698, followed by $0.00002052, marking the edge of the last failed rally. Clearing these levels could lead to $0.00002501 and potentially $0.00002970, areas last seen during strong recovery phases of 2024.

Currently, SHIB trades at $0.00001239, relatively flat on its long-term base. This position is critical; the market may either quietly decline further or experience a sudden rally characterized by a significant price increase — the anticipated “God candle.”