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As Shiba Inu trades near the $0.0000065 level, a key indicator that could spark a bullish reversal has emerged.
Since the broader market downturn on February 5, Shiba Inu has shown resilience, trading around $0.0000055. It has reclaimed the $0.000006 level and now trades near $0.0000065. Although the token remains well below its earlier yearly highs, analysts believe a major reversal could be approaching.
Key Points
- Despite trading well below its yearly highs, analysts believe a major trend reversal may be forming.
- The reversal could drive $SHIB toward $0.000035, marking a multi-month high.
- Reclaiming the $0.0000067 support level remains critical for the token’s next move.
- Persistent bearish pressure, including massive exchange inflows, could still limit or delay a strong rally.
A Potential Reversal Toward $0.000035
Community analyst Javon Marks shared this bold projection yesterday. In his analysis, he highlighted a bullish divergence on $SHIB’s Relative Strength Index (RSI). While price continues to post lower lows, the RSI is forming higher lows.
This pattern suggests weakening selling pressure and improving underlying momentum. Technically, such divergence often precedes a trend reversal, signaling that bearish control may be fading.
If the setup plays out, Marks projects a rebound of over 400%, which could propel Shiba Inu’s price to $0.000035. Such a move would mark a significant recovery phase and could help restore market confidence.
Is the $0.000035 Target Realistic?
Shiba Inu last traded near $0.000035 in December 2024, shortly after the U.S. presidential election. However, it has since declined sharply, and it now trades with five zeros after the decimal.
Notably, Mark’s 400% projection does not guarantee immediate upside, but it signals that $SHIB may be approaching a key trend inflection point. If buying pressure strengthens and market conditions improve, the token could stage one of its strongest rebounds of this cycle.
Shiba Inu has previously delivered explosive rallies, including surging by more than 400% in a matter of days in March 2024. However, current market conditions differ from those that fueled earlier breakouts.
Beyond wider market headwinds, $SHIB also faces ecosystem-specific challenges. In particular, lead developer Shytoshi Kusama recently announced a tech product with no focus on $SHIB, potentially slowing development momentum. Moreover, exchange balances recently increased by 182 billion tokens, which could add short-term selling pressure and cap near-term gains.
Shiba Inu Must Reclaim Key Support to Fuel a Major Rebound
Meanwhile, analyst Ali Martinez emphasizes that Shiba Inu must reclaim the critical $0.0000067 level, which previously acted as a launchpad for rallies in 2021 and again in 2022/2023.
According to Martinez, a break above this level could open the door to a move toward $0.0000148, followed by a potential rally beyond $0.0000329. However, despite these bullish projections, there’s little hope that $SHIB could reach those targets due to bearish market pressures.
