Shiba Inu (SHIB) has faced challenges recently, slipping 3.5% in the last 24 hours and down 18.7% year-on-year, contrasting with other cryptos. Traders question if SHIB will rebound or continue declining.
Recent on-chain and technical indicators show a potential shift as buyers may be returning, albeit cautiously.
Fresh Buying Trends Backed by RSI Confirmation
In the past 24 hours, despite market declines, Smart Money wallets accumulated 3.78 billion SHIB while exchange reserves decreased by 56.6 billion SHIB, removing about 60.4 billion SHIB from exchanges, worth nearly $750,000 at the current price of $0.00001235.
Shiba Inu Buyers Return: Nansen
Despite the small amounts, this indicates that both Smart Money and retail traders are increasing their positions simultaneously. In contrast, whales have remained inactive. When smaller buyers align with large wallets, it often suggests confidence in the price floor.
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However, buying flows alone don’t guarantee strength—this is where the Chaikin Money Flow (CMF) adds perspective. CMF measures the balance of inflows and outflows. An upward trend indicates more capital is entering than exiting.
Shiba Inu Buyers At A Key Support Level: TradingView
The SHIB price has tested a critical support level of around $0.00001226 twice. Normally, repeated lows may indicate weakness. However, CMF produced a higher low in the second test, suggesting greater inflows while prices remained stable.
Simply put, there was more buyer activity the second time, indicating accumulation—larger entities are quietly gathering supply while retail investors follow suit.
This supports the notion that the recent bounce is grounded, with demand escalating at the key support level of $0.00001226.
Key Shiba Inu Price Levels To Watch
While the broader market remains delicate, SHIB is trading at $0.00001235, just above significant accumulation around $0.00001203. This zone has previously acted as a robust support level, aided by new inflows. Furthermore, the CMF analysis indicates $0.00001226 serves as another critical support.
If buyers can establish a foothold at these points, the initial test will be at $0.00001271, a key resistance level. A clean break above this would pave the way to $0.00001350, translating to a 9.6% gain from current prices.
Conversely, if SHIB fails to maintain $0.00001203, a downturn could occur, undermining the bullish outlook.
The post Shiba Inu Buyers Step In as Market Dips — Is a Rebound Ahead? appeared first on BeInCrypto.
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