- SHIB defended a key support zone near $0.0000074 after last week’s sell-off
- Repeated rebounds suggest buyers are actively protecting this level
- A move toward $0.0000082 is possible if momentum continues to build
Shiba Inu is showing early signs of stabilizing after defending a key support zone, opening the door to a possible short-term recovery. While the broader market remains under pressure, SHIB’s recent price behavior hints that sellers may be losing some control. If this structure holds, the token could attempt a move back toward the upper end of its current trading channel.
The meme coin closed last week on a weak note, slipping 4% on Sunday alone and finishing the week down roughly 7.17%. That decline followed the broader market lower, but the way price reacted near support is what traders are watching now. Instead of accelerating downward, SHIB found demand and bounced, a subtle but important shift.
SHIB Holds Its Ground Near Key Support
Despite last week’s losses, Shiba Inu managed to defend a critical demand zone. On the lower timeframes, Sunday’s sell-off pushed price back toward the $0.0000074 area, a level that has acted as support multiple times. SHIB first dropped into this zone on January 18, hitting a low near $0.00000745 before rebounding to close that week closer to $0.00000787.
Since then, price has mostly moved sideways. Several breakout attempts failed, but sellers also struggled to push SHIB meaningfully lower. For example, SHIB rallied to around $0.00000815 on January 20 before momentum faded. Similar highs formed on January 21 and 23, but each push was met with selling pressure, keeping the range intact.
Late last week, SHIB once again slid back toward the lower boundary of the channel, briefly dipping to about $0.00000736. Just like before, buyers stepped in, allowing price to recover and close the week near $0.00000750. The repeated defense of this area is starting to stand out.
What This Setup Means Going Forward
As long as SHIB continues to trade above this lower-timeframe support, a recovery remains possible. The consistent rebounds suggest bulls are treating this zone as a line in the sand, stepping in whenever price drifts too close. That behavior doesn’t guarantee upside, but it does reduce the odds of an immediate breakdown.
The new week has started on a brighter note, with SHIB already up around 2% at the time of writing. If momentum can hold, the next natural target sits near the top of the channel, around $0.0000082. A clean break above that level could invite stronger follow-through, though that remains speculative.
Of course, risk still cuts both ways. If buying momentum stalls, SHIB could slide back toward the same support zone it just defended. A failure there would change the picture quickly. For now, though, the recovery from the demand area leans cautiously bullish, even if confirmation is still needed.
