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- SHIB holds critical supports at $0.000006 and $0.000010.
- A breakout above $0.00003364 could trigger a 200% rally.
- Long-term targets include a 400% rally and a 600% return to all-time highs.
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Shiba Inu (SHIB) has slipped into a prolonged period of stagnation, frustrating long-time holders and fueling doubts about its future. Market analyst MMBTtrader recently described the environment as “dead,” noting that sentiment has become increasingly discouraging. Despite this bleak outlook, the analyst also highlighted technical factors that could set up a major recovery if certain conditions are met.
Support Zones Provide a Safety Net
SHIB continues to defend two critical support areas, around $0.000006 and $0.000010. These levels have historically acted as turning points, marking the start of previous rallies. As long as the token holds above these zones, the possibility of a rebound remains alive.
However, the price has been capped by a long-standing descending trendline that has acted as resistance for months. A decisive break above this line would be essential for bulls to regain control.
The $0.00003364 Resistance Barrier
The immediate challenge lies at $0.00003364, a resistance level tested but rejected several times in the past year. This zone has become a psychological ceiling for SHIB traders. Clearing it could trigger an explosive move, with MMBTtrader projecting a rally of roughly 200% from current prices.
Roadmap to Bigger Gains
If SHIB can sustain momentum above $0.00003364, the path opens toward more ambitious targets. The analyst sees potential for a 400% rally, returning prices to levels last seen in late 2021. Longer term, reclaiming the October 2021 all-time high of $0.00007730 would represent gains of more than 600%.
Also Read: Shiba Inu Burn Rate Surges 440% in 24 Hours as SHIB Price Faces Resistance
While the market feels stagnant today, SHIB is not without hope. The presence of firm supports, combined with clearly defined resistance levels, gives traders a roadmap to monitor. Until the token breaks above $0.00003364, however, talk of 400% or 600% rallies remains speculative.
For now, SHIB sits at a crossroads: a market many see as “dead,” but with technical structures that could fuel one of its strongest rebounds if conditions align.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
