- Shiba Inu faces bearish momentum with key support at $0.00001950 critical for recovery.
- Market sentiment weakens as trading volume drops 45%, signaling investor caution.
- February forecast shows potential price range of $0.0000206 to $0.0000280 for SHIB.
Shiba Inu ($SHIB) has faced a series of setbacks in early 2025, with its price continuing to decline. After a significant decline in trading volume and market sentiment, investors are questioning the token’s ability to recover. As February approaches, key technical levels and market signals will play a pivotal role in shaping $SHIB’s short-term direction.
Price Trend and Market Sentiment
As of press time, Shiba Inu is priced at $0.00001994, reflecting a 2.24% decrease over the last 24 hours. This decline is in line with a broader downtrend that has seen the token struggle to maintain upward momentum.
The market capitalization has dropped to $11.74 billion, with a similar percentage decrease in the last 24 hours. Moreover, the 24-hour trading volume has significantly fallen by 45.33%, pointing to a lack of market activity and waning investor interest. With a circulating supply of 589.25 trillion SHIB, the market seems to be holding its breath, waiting for a clear signal from price action.
Key Support and Resistance Levels to Watch
Looking at the chart, several support and resistance levels stand out as critical for the short-term price movement of $SHIB. Immediate support is at $0.00001950, a level where the token previously consolidated during price dips.
If this level is breached, it could trigger a deeper sell-off. A further drop could see SHIB testing $0.00001850, a historically significant level. If $0.00001700 is reached, it would mark a major support zone, offering potential for accumulation, especially if market sentiment shifts positively.
Related: SHIB Price Surges by 10.41% in 24 Hours, Market Cap Hits $4 Billion
On the upside, $0.00002050 represents immediate resistance. Breaking above this level could revive short-term bullish momentum. However, significant hurdles remain at $0.00002100 and $0.00002200. Overcoming these barriers would signal a more robust recovery, setting the stage for higher price targets.
Technical Indicators and Market Outlook
Technical indicators suggest a bearish outlook for Shiba Inu in the short term. The Relative Strength Index (RSI) stands at 40.39, indicating bearish pressure without entering oversold territory.
Similarly, the MACD (Moving Average Convergence Divergence) shows negative momentum, with the MACD line below the signal line. This reinforces the current bearish sentiment. However, a breakout above key resistance levels could shift momentum, opening the door to a potential recovery.
Related: SHIB Could Breakout Downwards Despite a $10M Accumulation
Price Forecast for February 2025
Changelly blog experts Shiba Inu may experience fluctuations in February 2025. The token’s minimum price is estimated at $0.0000206, with a potential high of $0.0000280. The average trading price for the month is projected to hover around $0.0000243.
While challenges persist, these forecasts suggest the possibility of gradual recovery, driven by a mix of technical factors and renewed market interest.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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