Shiba Inu Price Prediction: Could SHIB’s Reset Set the Stage for a Rebound?
- Pullback toward $0.000004 support creates a potential setup for renewed bullish momentum.
- A descending wedge and reset Stochastic RSI could support a rebound.
- Long-term SHIB holders reached record levels, signaling stronger conviction despite recent selling.
Shiba Inu has surrendered most gains from the July and August breakout. SHIB now trades near $0.00000451 after a sharp pullback. The decline has raised fresh questions about the token's next direction. Bulls still have several technical signals worth watching closely. Meanwhile, long-term holders continue building their positions despite recent weakness. That contrast gives SHIB an interesting setup for traders. A recovery toward $0.00000509 remains possible if buyers regain control soon.
SHIB Faces a Full Technical Reset
SHIB fell back toward the 0.236 Fibonacci support zone after losing momentum. The token previously broke above a descending trendline during late July. However, sellers quickly erased much of that breakout. SHIB now trades below the former trendline while testing nearby support. The moving averages show a clear challenge for bulls. All four major EMAs currently sit above the market price. The 20-day EMA stands around $0.00000460.
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