SHIB price is in a short-term correction: SHIB/USD trades near $0.00001226, holding an hourly support at $0.00001223. Watch daily close for confirmation—failure to hold could push price toward $0.000012. Volume contraction suggests limited directional momentum in the near term.
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Local support: $0.00001223 on the hourly chart
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Sideways bias between $0.00001183 support and $0.00001273 resistance
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Falling volume indicates low conviction; SHIB trades at $0.00001226
SHIB price: SHIB/USD dips to $0.00001226 amid market correction—read key levels and trading outlook.
Saturday has started with a market correction, according to CoinMarketCap. Market breadth is narrower and top-cap tokens are seeing modest pullbacks as traders reassess short-term positioning.
Top coins by CoinMarketCap
What is the current SHIB/USD price action?
SHIB/USD has eased 0.46% over the last 24 hours and is trading at $0.00001226 at press time. The pair shows a short-term correction with clear hourly support at $0.00001223; traders should monitor the daily close to confirm any breakout or bounce.
How strong is the immediate support and what happens if it breaks?
On the hourly chart, the price of SHIB has set a local support at $0.00001223. If the daily candlestick fails to hold above that level, the next meaningful floor is near $0.000012, which could attract additional sellers. Volume has declined, reducing the likelihood of an aggressive move without renewed participation.
Image by TradingView
Why is sideways trading the most likely scenario?
On the larger time frame, SHIB sits mid-channel between $0.00001183 (support) and $0.00001273 (resistance). Neither side shows dominance, and the falling trading volume supports a low-volatility, sideways regime. This suggests limited upside follow-through until a decisive breakout or breakdown occurs.
If a bounce does not materialize, traders may see a level breakout followed by a further drop toward the $0.000012 zone. Conversely, reclaiming $0.00001273 with volume would shift momentum back to the bulls.
Image by TradingView
From the midterm perspective, SHIB remains within the previous weekly candle. That alignment limits the chance of abrupt directional moves in the near term. Market participants should watch volume and daily closes for confirmation of any trend change.
Image by TradingView
How should traders interpret volume and price channel signals?
Falling volume alongside a mid-channel position suggests consolidation. Traders should prioritize risk management: set tight stops near support and avoid leveraging positions until a clear breakout accompanied by rising volume validates direction.
Frequently Asked Questions
What is the nearest support level for SHIB?
The nearest hourly support is $0.00001223; failure to hold may expose SHIB to the $0.000012 zone. Monitor the daily close for confirmation of any breakdown.
Is SHIB likely to break out soon?
Short-term breakout probability is low while SHIB remains mid-channel and volume is contracting. A breakout requires increased buying pressure above $0.00001273 with rising volume.
Key Takeaways
- Short-term support: $0.00001223 is the immediate hourly floor.
- Range bias: Sideways trading between $0.00001183 and $0.00001273 is most likely.
- Action: Watch daily closes and volume; trade with defined risk until volatility returns.
Conclusion
SHIB price shows a measured pullback amid a wider market correction, holding key hourly support at $0.00001223 and trading at $0.00001226. Traders should prioritize confirmation from daily closes and volume before increasing exposure. COINOTAG will monitor developments and provide updates as conditions change.
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