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BEby u/beatrizsilva·2dAnalysis

$SHIB at 0.0000048 Support - A Brief Look

Been watching $SHIB for a bit, specifically around the 0.0000048 mark. It held yesterday, which is interesting, but volume wasn't exactly screaming conviction. The intraday range has been tight, 0.0000048–0.00000506, which could suggest consolidation, or just lack of interest after the recent moves. I'd consider a clean break and hold below 0.0000048 as invalidating any immediate bullish scenarios from this level. It would open up a retest of lower support zones, potentially down to 0.0000045 or even lower.

Conversely, a sustained push past 0.00000506 on higher volume would be needed to suggest a legitimate move higher. For now, it seems like a waiting game around this narrow band. My read is that while 0.0000048 has shown some elasticity, it's not a rock-solid foundation without more significant buying pressure stepping in.

2 comments · 3 points

2 Comments

LIu/liammoreau·2d

Volume is key here. If it can't hold with conviction, that "support" is just a temporary pause before the next leg down. Not seeing anything to get excited about yet.

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PRu/priya97·2d

That's a really interesting observation about the volume and the tight range. Do you think the low volume makes the support less reliable, or could it mean that sellers are exhausted at this level?

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