Despite a 4% intraday drop on Tuesday, Shiba Inu (SHIB) found solid support at the $0.000012 price level. While the broader crypto market saw a wave of profit-taking, a notable increase in trading volume for SHIB suggests that investors were buying the dip.
According to CoinMarketCap data, spot trading volumes for SHIB surged by nearly 40% on Tuesday, from $154 million to over $215 million, indicating a strong defense by bulls.
Price Forecast and Key Levels
The article notes that SHIB is currently hovering around the $0.000012 support level, a zone that previously acted as a consolidation point in early July. However, the Super Moving Averages (5, 8, 13) show mixed signals, with the shorter-term averages falling below the longer-term one, suggesting emerging bearish pressure.
Key indicators to watch are:
- RSI (Relative Strength Index): At 45.61, the RSI is recovering from oversold levels, hinting that the downward momentum may be easing.
- Upside Potential: If SHIB can hold above $0.000012 and reclaim the 8-day SMA at $0.00001238, a retest of the $0.00001300 level is possible. A sustained break above the 13-day SMA could push the price toward the psychological $0.000015 level.
- Downside Risk: A failure to hold the $0.000012 support could expose SHIB to further drops, with immediate support at $0.0000115 and potential lows at $0.0000105 or even $0.0000095.
The article also mentions a new project, Solaxy (SOLX), as a potential destination for SHIB traders looking to diversify into the Solana ecosystem.
August 2025, Cryptoniteuae
