Shiba Inu (SHIB) Hits Historic Support: Is a Repeat of the 800% Rally Looming?

Shiba Inu Nears Historic Support as Analysts Eye Potential Breakout

Shiba Inu (SHIB) is once again approaching a long-standing support zone after months of steady consolidation, raising speculation about a possible trend reversal. Analysts point to the $0.0000067 level as a historically significant area that has previously marked major turning points for the meme-based cryptocurrency.

After slowly grinding lower from recent highs, SHIB is now testing investor conviction as price action compresses near this key technical region. Traders are closely watching whether buyers will step in or if the support will finally give way.

SHIB Price Slides Toward Critical Demand Zone

SHIB has remained in a broader downtrend since March 2024, consistently forming lower highs and lower lows. The token reached a local peak at $0.00001009 on January 5, before declining more than 32% to its current price near $0.000006764.

As the price approaches the $0.0000067–$0.00000521 range, volatility has noticeably declined—often a sign of accumulation or indecision ahead of a larger move. According to TradingView analyst KlejdiCuni, this zone has repeatedly acted as a long-term floor for SHIB.

Historical Precedent Fuels Bullish Expectations

KlejdiCuni highlighted past instances where SHIB staged aggressive rebounds from similar levels. Most notably, in September 2021, SHIB dropped to around $0.00000510 before launching into an explosive rally of more than 800% within weeks.

That move ultimately carried SHIB to its all-time high of $0.0000885. While market conditions today are markedly different, the analyst believes the current extended consolidation could be laying the groundwork for the next major price expansion.

He described the setup as a long-term opportunity, stressing that such deep consolidations near historical support levels often precede decisive directional moves.

SHIB Price Targets if Support Holds

If SHIB successfully rebounds from the $0.0000067 area, KlejdiCuni outlined several upside targets:

• $0.0000170 — initial resistance and psychological target

• $0.0000320 — mid-range target aligned with prior consolidation

• $0.0000420 — near the March 2024 high

From current levels, these targets imply potential gains of approximately 150%, 370%, and 518%, respectively.

However, the analyst cautioned that timing remains uncertain, and a rebound is not guaranteed. A decisive breakdown below support would invalidate the bullish thesis and expose SHIB to deeper downside.

Market Outlook

While risks remain elevated, the historical importance of the $0.0000067 support level provides traders with a clear technical reference point. Past price behavior suggests that SHIB tends to attract long-term buyers near these levels, especially during extended consolidation phases.

Whether this zone sparks another major rally or fails under broader market pressure will likely determine SHIB’s trajectory for the remainder of the cycle. For now, price action around this support remains one of the most closely watched developments in the meme-coin market.

Dimitar Todorov publication: "Shiba Inu (SHIB) Hits Historic Support: Is a Repeat of the 800% Rally Looming?" was written for 24crypto.news

---

News from today

---

Related news

Shiba Inu (SHIB) Price Prediction Jan 2026: Why the $0.00000826 Support is Critical

Shiba Inu Supply Shock Fears: SHIB Exchange Reserves Plunge 6.79% Near $0.00000885 Support

XRP Price Drops to $1.22, But Ledger Velocity Hits Yearly Highs: Is a Breakout Looming?

DOGE Price Prediction 2026: Why Analysts are Targeting $1.00 as RSI Hits Historic Oversold Zone

More news with author: Dimitar Todorov