Shiba Inu Detects Rally Signal Between Bitcoin and XRP

▲ Shiba Inu (SHIB)

Shiba Inu (SHIB) is facing strong resistance ahead of a key psychological barrier, standing at a critical crossroads for a potential price rebound.

According to crypto media outlet The Crypto Basic on February 18 (local time), Shiba Inu traded at $0.00000665, down 3.4% over the past 24 hours, continuing its volatile movement. Earlier in the day, SHIB rose to $0.00000688 but failed to withstand selling pressure, plunging at one point to $0.0000044 before stabilizing at its current level. Daily trading volume reached $169.95 million, with $31.45 million in spot trading and $135.43 million in futures trading, highlighting the dominant role of the futures market in driving price fluctuations.

Analyst Ali Martinez stated that Shiba Inu is currently testing the $0.0000067 level as a strong resistance zone. He noted that if SHIB successfully reclaims this level and turns it into support, the next target price could be $0.0000099. However, with the token down 8.9% over the past seven days and 22.1% over the past 30 days, the broader downtrend persists, making a strong influx of buying pressure essential for any short-term rebound.

The stochastic oscillator, a key technical indicator, shows the K line at 72.89 and the D line at 76.78, hovering just below overbought territory. This suggests that Shiba Inu is more likely to enter a phase of temporary correction or consolidation rather than a full-scale reversal. If a dead cross occurs with the K line crossing below the D line, SHIB could fail to break above the $0.000007 resistance level and face the risk of further decline or deeper correction.

For a long-term price recovery, Shiba Inu must first break through the $0.0000148 zone. A move above this level could accelerate gains toward higher liquidity zones at $0.0000221 and $0.0000329. However, overcoming the selling pressure from investors who have endured a 58.8% loss over the past year remains a key challenge. Given SHIB’s sensitivity to the movements of major assets such as Bitcoin (BTC) and XRP, a broader recovery in overall market liquidity is expected to play a decisive role in any rebound.

As the crypto market shows mixed signals amid Bitcoin’s entry into a new volatility regime and ongoing technical debates surrounding XRP, whether Shiba Inu can reclaim its resistance level may serve as a critical indicator for the future direction of the memecoin sector. Investors are advised to closely monitor real-time movements around the $0.0000067 mark and adopt cautious response strategies. The global financial community is watching closely to see whether Shiba Inu can overcome this hurdle and lay the groundwork for a price reversal.

Disclaimer: This article is provided for investment reference purposes only and the publisher is not responsible for any investment losses incurred based on this information. The content should be interpreted for informational purposes only.