Shiba Inu’s price outlook has come under scrutiny, with a pseudonymous analyst describing the market as “dead” and frustrating for investors. According to MMBTtrader, the token risks sliding out of the top 40 cryptocurrencies if current conditions persist.
Despite this warning, the analyst pointed out that SHIB still maintains two important daily supports, leaving open the potential for a breakout. However, this depends on whether the coin can clear a descending trendline that has restricted gains for months.
Resistance Levels Define SHIB’s Next Moves
MMBTtrader explained that Shiba Inu’s upside prospects are tied to breaking through key resistance levels. The analyst identified $0.00003364 as the first major threshold, which has repeatedly acted as a rejection zone.
SHIB touched this level in March 2024 and again in December 2024, but both rallies were cut short by selling pressure. The repeated failure has reinforced $0.00003364 as a strong barrier, making it the crucial gateway for any future gains.
The analyst stated that overcoming this resistance would unlock a potential 200% rally. Clearing this level could also set the stage for higher targets, including a 400% rise that was last achieved in November 2021.
Beyond that, the long-term target stands at $0.00007730, which reflects SHIB’s all-time high recorded in October 2021. MMBTtrader projected that a breakout above this level could deliver gains of over 600%. However, the analyst emphasized that such a move hinges on maintaining SHIB’s support structure and breaching the long-standing descending trendline.
Source: TradingView
Support Zones Critical for Long-Term Outlook
While resistance defines the upside pathway, SHIB’s support levels remain central to its survival in the current market. MMBTtrader highlighted $0.000010 and $0.000006 as the two critical zones that have historically marked turning points.
These supports provided the foundation for past rallies, making their defense essential if SHIB is to mount another breakout attempt. The analyst explained that if these supports fail, Shiba Inu could face deeper losses and risk falling further in the cryptocurrency rankings.
On the other hand, sustaining them would preserve the structure required to challenge resistance barriers. This balance between holding support and overcoming resistance outlines the token’s roadmap for any future rallies.
At the time of writing, SHIB is trading at around $0.00001221, suggesting a 1.31% increase in the last 24 hours.
SHIB PRICE Source: CoinMarketCap
Source: https://coinpaper.com/11234/analyst-warns-of-top-40-crypto-exit-risk-amid-key-resistance-at-0-00003364
