Shiba Inu is barely holding on as price predictions turn bearish.
SHIB is hovering around $0.0000053 after a sharp 21.5% drop in February, and the daily structure has clearly turned bearish. Each bounce continues to be capped below $0.0000065, where overhead supply and trapped long positions are heavy.
The broader context doesn’t help. The fear and greed index is stuck at 10, deep in extreme fear. Meme coins were hit the hardest during this wave of risk aversion. Only about a third of SHIB’s trading days last month closed in green.
(Source: Alternative)
At present, relief movements are weak. And the feeling is colder than it has been in months.
Shiba Inu Price Forecast: Supply Area Overhead, Key Levels to Watch
SHIB is still in a clear short-term downtrend. Lower highs. Lower lows. Every bounce is sold.
The price is just above the $0.0000053 demand zone. This level is the only thing stopping it from sliding any faster. This has already been tested and the reaction has not been strong. If $0.0000053 breaks its momentum, the next stop is the psychological zone of $0.0000050.
(Source: SHIBUSD/TradingView)
Aerial resistance is superimposed. First around $0.0000058. Then a larger bid near $0.0000060. Above that is $0.0000066, where the last major breakdown began. Bulls need to reclaim at least $0.0000060 to show real structural improvement.
An RSI around 38 signals weakness, not capitulation. There is still room for one more descent before conditions deteriorate. As of now, this is still a rebound sell-off setup. Below $0.0000060, rallies are just relief moves. Lose $0.0000053 and the next hunt will likely speed up.
On-chain data doesn’t provide much comfort to the bulls.
The Accumulation/Distribution line continues to decline on the daily chart. This generally means steady net selling and not silent accumulation. Whale behavior is also inconsistent. Instead of coordinated purchases that often mark a bottom, recent flows reflect more distribution than conviction.
(Source: CryptoQuant)
Exchange data adds to the caution. When tokens move onto exchanges during a decline and are not accompanied by strong outflows to cold storage, it often signals a preparation to sell rather than buy. This model currently appears in SHIB.
Even the recent 5.55% rebound to $0.00000633 lacked depth. It has not generated the kind of sustained demand that constitutes a real base. For now, supply still seems heavier than demand beneath the surface.
DISCOVER: SHIB Price Forecast: Community Developments and Market Outlook
Maxi Doge Presale Provides Clear Meme Exposure
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. Hailing from crypto since 2017, Daniel leverages his experience in on-chain analytics to write evidence-based reports and in-depth guides. He holds certifications from the Blockchain Council and is dedicated to providing “insight gain” that overcomes market hype to find real utility for blockchain.
