Shiba Inu Won’t Stay This Cheap for Long, Says Analyst – Time to Buy?
The post Shiba Inu Won’t Stay This Cheap for Long, Says Analyst – Time to Buy? appeared on BitcoinEthereumNews.com.
Altcoin News The $6.7 billion market capitalization is identified by analyst “Pepe is Friend” as the crucial support zone for Shiba Inu. At the $10 billion market capitalization level, SHIB encounters resistance; a break is necessary for an upward trend. Potential gains of 80–100% or a collapse to the $0.00000630 support level are depicted in two scenarios. Shiba Inu trades in a narrow range between $0.00001142 and $0.00001229 as the meme coin faces downward pressure that has pushed it 1.02% lower in 24 hours and 9.33% down over the past week. The pseudonymous analyst “Pepe is Friend” believes SHIB is getting close to a critical support zone that can serve as the basis for a price recovery from the present levels around $0.00001164, despite the negative momentum. The analyst’s market cap analysis reveals a pattern of lower highs and lower lows that characterizes the ongoing downtrend. However, he identifies a critical support zone around the $6.7 billion market cap level that has historically provided price stability and served as a launching point for recovery movements. $SHIB is pretty much at the bottom now, seems like it’s approaching the support zone. If it really hits that support, it’ll likely move sideways for a while before the next growth phase. Stay confident and keep holding or even buy more #SHIB . I’m sure you won’t regret it. You… pic.twitter.com/T6Gt4SfN3g — PEPE is friend (@pepeisfriend) June 19, 2025 Historical Support Patterns Suggest Potential Floor Formation Historical precedent supports the importance of this support zone, as demonstrated during April 2024 when Shiba Inu fell below the $6.08 billion market cap threshold. Bears failed to maintain downward pressure at these levels, resulting in a price rebound that validated the support zone’s effectiveness. “Pepe is Friend” anticipates consolidation before any further development phase emerges if SHIB…
Filed under: News - @ June 20, 2025 4:18 am