Shiba Inu has faced downward pressure in recent days, with the token trading around $0.00001288 at the time of writing. This marks an 8.70% drop over the last 24 hours and a 12.72% decline over the past week, underscoring a bearish short-term outlook. This negative trend has prompted market analysts to assess potential scenarios for the token’s price movement. Aram Salimi, a TradingView analyst, has presented two possible trajectories for SHIB based on its long-term chart patterns. His analysis focuses on two critical trend lines: a descending resistance line that has been in play since the asset’s all-time high in late 2021 and an ascending support line that emerged in mid-2023. Technical Overview: Key Levels and Patterns Since reaching its peak near $0.000088 in late 2021, SHIB has consistently been rejected by a descending resistance line that has acted as a ceiling during multiple rallies. This resistance has been tested at several points, first in March 2024 at approximately $0.0000453, and again in December 2024 near $0.0000335, each time resulting in a pullback, reinforcing the strength of this barrier. In contrast, SHIB established an ascending support line beginning in June 2023, following a low at $0.00000483. This support has provided several bounce points, most notably on January 1, 2024, at $0.0000071, and again on August 5, 2024, around $0.0000108. Although this trendline held for a period, SHIB has recently broken below it and is now hovering near a previously tested demand zone around $0.0000108, a level that acted as support in both August 2024 and April 2025. Forecast: Bullish vs. Bearish Scenarios Salimi identifies two potential directions for SHIB in the coming weeks. In the bullish scenario, the token maintains its position above the $0.0000108 support zone and begins a recovery. A successful breakout above the descending resistance line could open the door for further gains, possibly pushing the token back toward its previous high near $0.000088. This would represent a substantial upside from current levels, with potential returns exceeding 570%. In contrast, if SHIB fails to hold above $0.0000108, further losses could follow. The next significant levels to monitor would be around $0.000009 and, in a more pessimistic scenario, down to $0.0000043, translating to a potential 67% drop from current prices. Still, Salimi suggests that the upward trajectory is more plausible, given continued support from the SHIB community. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Market Sentiment and Derivatives Activity Recent derivatives data provides mixed signals. SHIB’s trading volume has increased significantly, by over 71%, to $227.26 million, reflecting rising market participation. However, open interest has decreased by 15.52% to $194.10 million, possibly indicating that traders are closing out positions or waiting for clearer signals before re-entering the market. Long/short ratios also vary across exchanges. On Binance, the ratio stands at 0.9168, suggesting more accounts are holding short positions. On OKX , however, the ratio is notably higher at 2.02, with long positions dominating. These discrepancies highlight differing market sentiments depending on the platform. In terms of liquidations, long positions have taken the brunt of the losses. Over the past 24 hours, $1.4 million in long positions were liquidated, compared to just $5,280 in short positions. Despite this, the funding rate remains positive at 0.0065, indicating that more traders are paying to maintain long positions, a sign that bullish expectations persist even during this decline. SHIB’s price is currently at a critical juncture. While bearish momentum has been strong, a rebound remains possible if key support holds. The community’s optimism and growing market interest suggest that an upward break, while not guaranteed, remains on the table. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Analyst Spot Two Compelling Paths for SHIB Price. Here’s the Significance appeared first on Times Tabloid .
