The cryptocurrency market kicked off the weekend on a strong note, with Shiba Inu (SHIB) seeing a gain of 2.49% over the past 24 hours according to CoinStats data. After testing support levels at $0.00000998, this popular meme coin shifted upward. Analysts suggest that if the day’s closing price surpasses $0.00001017, the likelihood of SHIB reaching the $0.00001025 area increases significantly.
Mid-Term Balance Search Continues
On a broader timeline, SHIB has entered a recovery phase with support at $0.00000956. However, it seems that the bulls have not yet gathered enough momentum to sustain this rise. Experts indicate a potential sideways movement between $0.000010 and $0.00001050 over the next few days, which is interpreted as an “accumulation period” before a new directional decision is made.
Meanwhile, a similar pattern is apparent with Dogecoin (DOGE), which has climbed by nearly 3% in the last 48 hours, testing the $0.16 level. Experts believe a general recovery is occurring within the meme coin segment, with SHIB at the heart of this movement.
Timing is Crucial for Investors
In the mid-term outlook, both buyers and sellers are acting cautiously regarding power balance, leading to low volatility for a period. SHIB is currently trading at $0.00001014. If volume increases, SHIB could potentially initiate a new upward trend by the final quarter of 2025.
In addition, updates on the “Shibarium” layer-2 network by the Shiba Inu team are among factors supporting price expectations. The network’s transaction volume saw a 20% increase by the end of October, reassuring investors about the project’s long-term sustainability.
While the market outlook remains promising for Shiba Inu, caution is advised. Technical indicators point to short-term increases, but unless mid-term resistance zones are surpassed, strong trend formations remain challenging. Experts suggest that investors set profit-taking points to be prepared for sudden corrections.