The Shiba Inu ($SHIB) token is once again nearing a historically crucial support level around $0.00001150. Currently trading at approximately $0.00001170, the meme coin is testing a price floor that has reliably triggered strong rallies in the past, leading traders to anticipate a potential repeat performance.
The Proven Power of the $0.00001150 Level
The $0.00001150 zone has acted as a significant “lifeline” for $SHIB:
- March: A bounce from this area led to a rally up to $0.000014.
- April: The token climbed to $0.00001550 after touching this support.
- June/July: Even during general market volatility, $SHIB recovered from this level to push toward $0.00001570.
This repeated pattern has established the $0.00001150 mark as a key technical reference point, raising expectations for a fresh rebound as the price approaches it again.
Reduced Selling Pressure Supports a Bounce
Adding to the bullish case is a sharp drop in Shiba Inu’s exchange reserves. Holdings on centralized exchanges have fallen to 84.34 trillion tokens, a two-year low.
A low supply of tokens held on exchanges typically suggests that traders are less inclined to sell, thereby reducing potential selling pressure. This fundamental factor could provide the confidence needed for bulls to successfully defend the $0.00001150 support zone and push the price higher.
Historical “Uptober” Trend
Finally, a seasonal factor reinforces the optimistic outlook: October has historically been a strong month for $SHIB, with significant price gains recorded in 2021, 2022, 2023, and 2024. The most notable rally was the 833% surge in October 2021. While past results are not predictive of future performance, this “Uptober” track record contributes to investor optimism that a bounce from critical support could evolve into a larger monthly move.
October 2025, Cryptoniteuae
