Can Shiba Inu Break Free? Mapping SHIB's Path to $0.00002370

The meme coin inu asset SHIB is currently locked in a critical juncture, with traders closely watching whether the token can establish a solid foundation and launch a meaningful recovery. At present, SHIB sits at $0.000008085 with a 24-hour trading volume of $84.02 million, backed by a market cap of $4.76 billion. The token has retreated 3.51% over the past day and 2.3% throughout the week, signaling persistent selling pressure.

The Technical Hurdle: What’s Holding SHIB Back?

From a technical perspective, the inu-based asset faces significant headwinds. The price action reveals a series of declining peaks and troughs that have persisted since mid-2025, starting from the year’s early highs. The moving average ribbon configuration remains unfavorable, with short-term averages still trapped beneath longer-term ones—a classic bearish signal.

The momentum indicators paint a cautionary picture. The RSI currently sits at 35.07, hovering near oversold conditions without fully entering that zone. The MACD shows minimal bullish divergence, appearing flat to slightly negative. These readings suggest that buying momentum remains subdued, and without a catalyst, further downside cannot be ruled out if support levels give way.

Where Are the Critical Support Levels?

SHIB is currently testing a crucial support area at $0.0000080. This level represents more than just a price point—it’s a potential inflection point that could determine the token’s near-term trajectory. Should this floor hold, the token could initiate a recovery sequence. Multiple analysts have noted that SHIB is consolidating within a descending channel on the 2-day timeframe, suggesting the market is carefully probing lower levels before any potential reversal.

The Recovery Roadmap: Sequential Targets

If buying pressure emerges and SHIB manages to defend the $0.0000080 support, a staged rally becomes plausible. The immediate recovery target would be $0.00000885, representing the first hurdle in any upside move.

Beyond that, traders must monitor resistance zones at $0.00001150, $0.00001410, and $0.00001770. Each of these levels would need to be cleared sequentially for momentum to build toward the medium-term destination.

The ultimate prize for bulls remains $0.00002370, representing a substantial move from current levels. This target would require sustained buying interest, a confirmed support bounce, and growing participation from investors as trading volumes expand.

Market Context: Sentiment Shifts

The improving sentiment among market participants suggests that SHIB traders are growing more confident about testing the support zone. A confirmed bounce at this critical area could attract renewed investor attention and trigger a cascade of buying activity. However, this remains conditional on price action respecting the technical framework and key support structures remaining intact.

The crypto sector’s notorious volatility means outcomes remain fluid, and traders should remain disciplined in monitoring chart patterns and position sizing accordingly.