Shiba Inu (SHIB) is approaching a key support zone, drawing attention from traders as analysts watch for a potential rebound. Meanwhile, Shibarium has reassured users that recent wallet and explorer issues do not affect network operations.
Shiba Inu is currently trading near $0.0000055279, down 1.78% in the last 24 hours, according to CoinMarketCap. Daily trading volume increased 16.87% to $83.34 million, while the token has dropped approximately 5% over the past week, highlighting ongoing bearish sentiment across the meme-coin market.
SHIB Approaches Key Horizontal Support Zone
Technical data from the Shiba Inu pair on Binance shows the token remains within a descending channel, where lower highs and lower lows indicate persistent selling pressure. Shiba Inu is now approaching the lower boundary of this channel, coinciding with a horizontal support zone formed by past reactions.
Analysts consider this a potential turning point, where renewed buying interest could trigger a rebound. However, a break below this support could intensify downside pressure, prompting a search for the next demand zone and signaling continued bearish momentum.
According to Profit Demon, SHIB’s three-day chart pattern suggests the asset is nearing a bounce point at the lower edge of a falling wedge. The analyst identified several possible upside targets if buyers defend this area: $0.0000070, $0.0000093, $0.0000130, and $0.0000195.
A rebound would likely first aim for mid-range resistance within the channel before testing higher levels. Conversely, a support breakdown would reinforce bearish momentum, potentially extending the downtrend and influencing short-term trader sentiment.
Also Read | Shiba Inu Nears Top-30 Exit as Ranking Gap Narrows
Shibarium Developers Address Wallet Connection Issues
Meanwhile, developers behind Shibarium addressed recent wallet connection and explorer display issues affecting some users. The team clarified that most problems were caused by incorrect or outdated RPC configurations, not network faults.
Users were advised to clear wallet caches, remove the Shibarium network, and reconnect using updated RPC settings. Explorer display issues affecting certain tokens and NFTs were linked to indexing delays and a temporary bridge update, with officials confirming all assets remain secure on-chain.
Looking ahead, Shibarium plans a privacy upgrade in Q2 2026, designed to improve network security and technical functionality. The development is expected to enhance usability for the growing SHIB community while maintaining blockchain integrity.
Also Read | Shiba Inu(SHIB) at $0.0000055: Weekly Breakdown Opens Path Toward $0.0000030
