Shiba Inu (SHIB) has pulled back slightly after weeks of impressive momentum. Despite this correction, current technical indicators do not suggest that SHIB is at risk of “adding a zero” to its price, at least not yet.
Currently, SHIB trades around $0.00001353, aligning closely with its 20-day Simple Moving Average (SMA), which also serves as the middle line of the Bollinger Bands. This level, now at $0.00001358, historically acts as a decision zone: it can either spark renewed upward momentum or signal deeper bearish sentiment if broken.
Fortunately for bulls, the lower Bollinger Band offers reassurance. Support remains well above the psychologically important “danger zone,” with the lower band sitting at approximately $0.00001107. This level helps anchor price expectations and may provide a safety net for the ongoing correction.
Price Action and Volume Indicate Pause, Not Panic
In July, SHIB surged nearly 60%, rising from a low of $0.0000097 to just under $0.000016. This bullish run peaked as volume surged to 2.47 trillion SHIB in a single day, a clear indication of strong interest.
However, the recent downturn has reversed much of that gain within just two bearish daily candles. Notably, trading volume has dropped to 1.57 trillion SHIB during this pullback. Lower volume often suggests sellers are losing steam, which could lead to stabilization or recovery.
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What to Watch Next: Midline Battle or Breakdown?
Now, all eyes are on whether SHIB can hold the midline of the Bollinger Bands. If the price rebounds from this point, it could quickly retest the $0.000015 resistance zone. On the flip side, a close below the midline for several days might send SHIB toward the lower band, triggering fears of “adding a zero.”
While the current setup shows little evidence of such a decline, breaching the $0.00001107 support could quickly change the narrative. SHIB holders should watch this closely; this midline moment may define SHIB’s next big move.
