Shib Coin Price Bottoms Out and Rebounds: Latest Market Analysis

Shib Coin Today’s Price Overview

Figure:https://www.gate.com/trade/SHIB_USDT

According to Gate’s spot data, as of 11:00 Beijing time, the price of Shib Coin (SHIB/USDT) is $0.00001351, rebounding 2.6% from yesterday’s low of $0.00001317. In the past 24 hours, it reached a high of $0.00001369 and a low of $0.00001305, with an overall volatility of 4.8%. Amid slight fluctuations, both bulls and bears are clearly contesting within the support and resistance range.

Recently, the SHIB price has repeatedly tested the range of $0.0000130–$0.0000140 for several days. Short-term traders should focus on the boundaries of this range and flexibly grasp the opportunities for rebounds.

Trading Volume and Market Sentiment Review

• 24-hour trading volume: approximately 78.59 billion SHIB (equivalent to about $10.9M USDT), up 18% compared to the previous day, indicating a rebound in trading activity.
• Fear & Greed Index: Rebounded to 69 (Neutral to Greedy), indicating that market optimism is gathering.
• Social Data: The number of SHIB related topics on platforms like Reddit and Twitter has increased by 15% compared to a week ago, indicating that community interest is gradually recovering.

By observing trading volume and sentiment indicators, beginners can determine whether market sentiment is amplifying: an increase in trading volume accompanied by a price rebound indicates that bullish confidence is strengthening; if sentiment becomes overheated, one should be cautious of a consolidation pullback.

Key technical support and resistance

• Support level: $0.00001330 — corresponds to recent multiple reversal points. If this level is breached, it may further test down to $0.00001300 in the short term.
• Resistance level: $0.00001370 — corresponds to the previous consolidation high and the 50-day moving average, an effective breakthrough is needed to open up upward space.
• Moving Average Indicator:
  • The 50-day moving average is approximately $0.00001368,
  • The 200-day moving average is approximately $0.00001450.
• MACD: The fast line and the slow line are turning upward, likely forming a golden cross in the coming days, bringing short-term Rebound momentum.
• RSI: Located around 44, not yet in the overbought zone, still has upward momentum.

Technical analysis shows that SHIB has a slight rebound space in the short term, but we still need to be wary of moving average pressure and the pressure of the long-term trend.

On-chain activity and whale movements

• Whale Holdings: Over the past 24 hours, the SHIB holdings of large addresses have rebounded from 727.8 trillion to 749.6 trillion, an increase of about 3%. Some large holders have already positioned themselves at low levels.
• Active address count: Up 10% compared to two weeks ago, indicating an increase in on-chain user interactions and trading willingness.
• Destruction volume: The daily average remains around 13 million pieces, but the overall destruction speed still has a gap compared to the peak at the beginning of the year.

On-chain data is of significant reference value for assessing the sentiment of large holders and the participation of ordinary users. A rebound in whale holdings accompanied by price stabilization is a short-term bullish signal; an increase in the amount of tokens burned can provide medium to long-term support for circulation.

The impact of community atmosphere and news events

• Official Announcement: The Shiba Inu team recently announced the upcoming launch of a cross-chain bridge feature, aimed at enhancing the project’s utility.
• KOL Perspective: Several well-known influencers have expressed positive views on the development of the SHIB community ecosystem on Twitter, boosting the confidence of some investors.
• Cooperation Update: Gradually collaborating with major DEX and NFT projects to provide more application scenarios for SHIB and enhance liquidity demand.

For beginners, keeping an eye on official and community updates can help seize buying or selling opportunities before and after news events trigger market fluctuations.

Beginner Entry Strategies and Risk Control

1. Batch building positions: The total position can be divided into three to five parts, buying in batches based on price trends to reduce timing risks.
2. Take profit and stop loss:
   • The take-profit level is recommended to be set around $0.00001370;
   • If the price falls below $0.00001320, stop loss in time to avoid greater losses.
3. Position Management: It is recommended that the initial position does not exceed 10% of the total funds, with strict control of leverage and liquidation risks.
4. Track the market: Stay focused on the trends of mainstream coins like BTC and ETH, and adjust your SHIB positions accordingly.

Future Trend Outlook and Summary

Based on a comprehensive analysis of the overall market environment, on-chain data, and technical aspects, Shib Coin has a rebound opportunity within the range of $0.00001330–$0.00001370. If it can effectively break through resistance and is accompanied by an increase in trading volume, it may open up upward space; conversely, if it falls below support, caution should be taken against the emergence of new lows.

For beginners, it is essential not to blindly chase highs and sell lows. Sticking to a strategy of building positions in batches, implementing strict stop-loss measures, and dynamically tracking data are key to maintaining steady profits in a volatile market. I hope this article helps you better understand the market trends of Shib Coin and develop a reasonable trading strategy. Wishing you successful investments!