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SHIB price is trading near $0.000012 and testing short-term support at $0.00001204; momentum is bearish. A daily close below $0.00001150 would raise the risk of a deeper drop toward $0.00001050–$0.000011.
SHIB price testing support at $0.00001204 — a daily close below $0.00001150 could trigger further downside.
Short-term indicators show bearish momentum; market sentiment has pushed most coins into the red midweek, per CoinMarketCap data.
Key levels: immediate support $0.00001173, interim zone $0.00001150, downside target $0.00001050–$0.000011 (price data at press time).
SHIB price update: SHIB trades near $0.000012, testing support and signaling downside risk; read COINOTAG’s concise market update for levels and next steps.
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By the middle of the week, most coins have returned to the red zone, according to CoinMarketCap.
Top coins by CoinMarketCap
What is the current SHIB price outlook?
SHIB price is under short-term pressure, trading near $0.000012 at press time. The most important immediate support to watch is $0.00001204, with a stronger interim zone at $0.00001150 that will determine whether the decline accelerates.
How has SHIB moved over the last 24 hours?
The price of SHIB has fallen by 3.71% over the past day. This pullback reflects broader weakness across crypto markets midweek, where most tokens show negative returns on CoinMarketCap.
Image by TradingView
How likely is a deeper decline for SHIB?
On the hourly chart, SHIB is testing local support at $0.00001204. If the price fails to bounce by the end of the day, the path of least resistance points lower, with the next significant test around $0.00001173.
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From a longer-term perspective, the technical picture remains more bearish than bullish. Traders should place emphasis on the daily bar close: sustained closes below the $0.00001150 interim zone historically signal momentum shifts that can lead to further downside.
If the candle closes around current prices, traders may expect a test of the $0.00001173 support shortly.
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From the midterm point of view, the rate of the meme coin is far from key levels. Focus on the daily close in relation to the $0.00001150 zone. If that level is decisively broken, accumulated selling pressure could push SHIB toward $0.00001050–$0.000011.
SHIB is trading at $0.00001216 at press time.
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Why does the daily close matter for SHIB?
The daily close aggregates intraday sentiment and inflows. A close below $0.00001150 would indicate that sellers controlled the session and increase the probability of follow-through selling toward target support zones.
What should traders and investors do now?
Short-term traders: Watch intraday levels and use strict stop-losses just below $0.00001150 to manage risk.
Swing traders: Consider waiting for confirmation of support or a clear reversal pattern before entering new positions.
Long-term holders: Keep position sizing disciplined and focus on broader fundamentals rather than short-term volatility.
Frequently Asked Questions
What are the immediate support and resistance levels for SHIB?
Immediate support: $0.00001204; interim support zone: $0.00001150; downside target if broken: $0.00001050–$0.000011. Resistance depends on recovery momentum above current prices.
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How fast could SHIB drop to $0.00001050 if support breaks?
Timing depends on market participation and volume. A decisive daily close under $0.00001150 could trigger rapid downside within days if selling intensifies and liquidity is thin.
Bearish short-term momentum: A break below $0.00001150 raises the risk of a drop to $0.00001050–$0.000011.
Risk management is essential: Use stop-losses and wait for confirmed reversal signals before increasing exposure.
Conclusion
This COINOTAG market update shows SHIB price under short-term pressure, with critical levels at $0.00001204 and $0.00001150. Traders should prioritize risk management and watch daily candles for confirmation. For now, the outlook favors caution; monitor price action and official market data from CoinMarketCap and TradingView as reference points (plain text only).
