Shiba Inu (SHIB) continues to test investor patience as the asset inches toward a pivotal support area. Over the past month, the popular token has struggled to maintain bullish momentum, slipping into a persistent downtrend after a failed breakout in mid-May. Now, traders and analysts are watching closely as SHIB approaches the $0.0000114 mark — a price zone that could signal either a short-term rebound or continued weakness.

The $0.0000114 level has emerged as a point of interest due to its historical relevance and proximity to recent liquidity clusters. While the overall structure of the market remains bearish, there are subtle hints that the selling pressure could be easing. Whether this leads to a recovery or a deeper correction depends on what unfolds over the next several trading sessions.

Price Action Review: From Range Trading to Bearish Breakdown

Since March 2025, Shiba Inu has primarily traded within a tight range between $0.0000115 and $0.0000142. This consolidation was seen by many as a period of accumulation, offering opportunities for traders to play the highs and lows of the range. However, the pattern shifted drastically in May when SHIB broke above $0.0000152 — only to fall back below it shortly after.

That false breakout led to the formation of a descending triangle, a technical setup commonly associated with bearish outcomes. True to form, SHIB’s price began to slide after testing resistance at $0.0000152. By mid-June, the token was retesting its previous range low near $0.0000114.

Indicators Signal Caution, Not Capitulation

A look at the daily chart reveals why the mood among traders remains cautious. The Relative Strength Index (RSI) has stayed below the neutral 50 mark for more than three weeks, reflecting ongoing downward momentum. Meanwhile, the On-Balance Volume (OBV) has steadily declined, pointing to consistent selling activity and reduced buying enthusiasm.

These indicators suggest that bears are still in control, at least for now. The loss of $0.0000152 as support and its subsequent retest as resistance further confirms the bearish trend. In technical terms, this level now serves as a supply zone — an area where sellers are likely to re-enter the market if price rallies.

Friday’s Low Becomes the Magnet

Last Friday, SHIB dipped to a low of $0.0000114 before recovering slightly. This level now represents a key support area and has drawn the attention of short-term traders. It’s not just the chart that points to this zone — data from Coinglass’s liquidation heatmap also highlights significant liquidity just below that low.

In simple terms, this means many leveraged positions — especially long positions — could be forced to close if SHIB dips again to that zone. These liquidation events often act like magnets, attracting price toward them before a potential reversal. However, they can also accelerate losses if the selling pressure is too intense.

Another smaller liquidity cluster sits higher, around $0.0000136. For SHIB to reach that point again, bulls would likely need to reclaim $0.0000125–$0.0000130 as a base — something that hasn’t occurred since the recent slide began.

Support Holds, But for How Long?

At press time, SHIB is hovering near the $0.000012 zone. While this area has seen some defense from buyers, the overall trend remains fragile. The absence of bullish divergence on the RSI or signs of accumulation on OBV reinforces the cautious stance.

If SHIB fails to hold above $0.000012 in the coming days, a drop toward $0.0000114 or even $0.0000110 becomes more probable. These levels represent not just previous lows but also areas where a reversal could emerge — provided there’s a significant uptick in buying volume.

For now, lower timeframe charts — such as the 1-hour or 4-hour — will be essential for spotting early signs of a reversal. If bullish divergence appears (where price makes lower lows but RSI makes higher lows), that could be the first real hint that sentiment is shifting.

The Bigger Picture: What’s Next for SHIB?

Despite the current weakness, the broader narrative for Shiba Inu is still evolving. In 2025, the team behind SHIB has pushed for ecosystem expansion through SHIB: The Metaverse and Shibarium, their Layer-2 solution. While price action hasn’t immediately reflected these developments, long-term holders often look beyond short-term volatility.

That said, technical factors remain king in the near term. SHIB must break out of its descending structure and reclaim higher levels to attract new interest. Until then, the token may continue to oscillate between its recent low at $0.0000114 and interim resistances around $0.0000128–$0.0000135.

What Traders Should Watch

For retail traders and technical analysts alike, here are a few key levels and indicators to monitor this week:

• Support Zone: $0.0000110–$0.0000114. If price dips here and forms a bullish divergence, it may be a good signal for a short-term bounce.

• Resistance Levels: $0.0000125, $0.0000136, and the former support at $0.0000152 now flipped to resistance.

• RSI on 4-hour/1-hour: A move above 50 could signal short-term bullish strength.

• OBV Recovery: Watch for a reversal or plateau in OBV, indicating that selling is slowing down.

Conclusion: Short-Term Bearish, Long-Term Potential

Shiba Inu’s recent slide has reminded traders that volatility cuts both ways, even in assets with strong communities and development activity. The drop toward $0.0000114 could act as a key test — one that either confirms bearish momentum or sets the stage for a rebound.

If SHIB can hold this support level and attract renewed buying interest, the next leg up may target previous resistance zones. However, until there is a clear shift in volume and market structure, caution is warranted.

Short-term traders should stay nimble and rely on clear signals from the lower timeframes, while long-term holders may view this as yet another opportunity to accumulate at a discount.