Shiba Inu (SHIB) has started to show signs of recovery after a challenging few weeks, with its price currently sitting at $0.00001711, reflecting a 1.45% increase over the last 24 hours. The TD Sequential indicator has given a buy signal, suggesting that the recent downtrend may be losing steam. The first major resistance is at $0.00001891 (SMA 200), and a break above this level could push SHIB toward $0.00002288 (SMA 50), which would mark a strong recovery from its recent lows.
SHIB has struggled with market volatility, but increased interest from the retail investor community continues to support its price. The meme coin’s large and active community remains a key driver of its price action, and any positive sentiment or news could help fuel further upward movement. The recent rise in trading volume indicates that buyers are starting to re-enter the market, which could sustain the current rally.
However, SHIB remains a highly speculative asset, and traders should keep an eye on key technical levels. Failure to break through resistance could see SHIB returning to its previous range, with support around $0.000015. While the short-term outlook is uncertain, SHIB has shown resilience in past market cycles, and continued community support may help drive future gains.