- SHIB holds key support at $0.00001250 as whales increase accumulation at current levels.
- Momentum indicators hint at weakening bearish pressure with RSI above oversold territory.
- Targets from $0.00001332 to $0.00001946 are in focus if price breaks the descending triangle.
At the time of writing, Shiba Inu (SHIB) is priced at $0.00001276 and is resting above the support area between $0.00001250 and $0.00001260. Traders and larger investors are watching this part of the daily chart, where we are starting to notice accumulating movements. The current setup is closely watched as SHIB continues to consolidate after pulling back from recent highs.
Support Zone Activity and Technical Structure
Pressure remains on SHIB as its price falls below the 20, 50, 100 and 200-period simple moving averages. This confirms the prevailing bearish trend, but traders are focused on the support forming near $0.00001250.
Price has attempted to stabilize in this zone several times, which could suggest increased demand from buyers. Momentum indicators are also providing early signs of a slowdown in bearish pressure. The Relative Strength Index (RSI) is at 34.30, staying above oversold conditions.
Meanwhile, the MACD histogram is showing a slight contraction, indicating potential weakness in selling momentum. If the support zone holds, the price could move toward the 50 SMA at $0.00001349 and then toward the upper targets.
Whale Activity and Short-Term Price Targets
An observation by Shib Spain via X stated that “SHIB is getting ready for a massive pump,” pointing to increased interest near this support zone. Analysts also noted that SHIB is currently forming a descending triangle pattern, which may lead to a breakout if the price closes above the trendline.
Whale activity near this range suggests confidence in this level as a buying opportunity. The price targets being tracked are $0.00001332, $0.00001397, $0.00001608, $0.00001733, and $0.00001946. These levels align with historical resistance zones that SHIB may test if momentum builds and volume increases from current levels.
