Shiba Inu (SHIB) has recently experienced a notable price pullback, prompting questions about its immediate trajectory. However, a deeper dive into market metrics and technical analysis suggests this recent dip might be a strategic consolidation, paving the way for potential short-term gains for the popular meme coin.
Understanding SHIB's Current Market Posture
Despite a 15.59% price decline over a few days, this movement is largely interpreted as a healthy short-term correction rather than a signal of significant further losses. On-chain metrics paint a picture of accumulation, indicating that investors are buying into the dip. Furthermore, the threat of widespread profit-taking has remained subdued, reinforcing the notion that SHIB might be gearing up for an upward move. This short-term bullish outlook aligns with previously identified market imbalances.
Key Technical Levels and Upside Targets
Several technical indicators converge to highlight potential short-term price targets for SHIB. Critical imbalances on the daily timeframe are identified around the $0.00000758 and $0.00000817 levels, with an ultimate upward target before a longer-term downtrend resumes potentially reaching $0.00009. The 4-hour timeframe reveals an intact internal bullish structure, with a strong reaction from the $0.0000062 demand zone further confirming short-term bullishness. Traders can anticipate a rally towards $0.00000818, which is a 61.8% extension level and a higher timeframe supply zone. The steadily rising On-Balance Volume (OBV) and a dense cluster of short liquidations just below $0.000008 also support this upward potential. Overcoming the $0.0000066 supply zone would be a significant bullish signal, presenting a clear opportunity for short-term gains before long-term holders might look to sell into the bounce.
