Shiba Inu (SHIB) is showing signs of renewed market activity as traders closely watch key support levels and recent developments within the ecosystem.
Investor attention is heightened by ongoing technical patterns and controversy surrounding the project’s compensation initiative for past network exploits, which could influence SHIB’s near-term momentum.
SHIB rose 1.25% to $0.055775, while 24-hour trading volume dropped 32.48% to $140.47 million, according to Binance data as of March 12, 2026. Over the past week, SHIB has increased 0.39%, maintaining its position near a critical support level after several weeks of bearish pressure.
Market observers say the subdued volume suggests consolidation, with cautious investor sentiment dominating after repeated failed breakouts. Analysts highlight that short-term price stability may provide an opportunity for bulls to re-enter at key support levels.
SHIB Stuck in Prolonged Descending Channel
Crypto analyst Bit Amberly reports that SHIB is testing the lower boundary of a falling wedge formation on the 3-day chart. Bulls appear to be defending this support zone, establishing positions that could trigger a potential upward movement if confirmed.
The Binance chart shows SHIB in a prolonged descending channel with lower highs and lower lows, reflecting sustained bearish momentum. Price has mostly remained below the 50-period moving average, reinforcing downward pressure.
Despite repeated bounces off the channel’s lower boundary, rallies have been weaker over time. A confirmed breakout above the descending trendline could target $0.0000068, $0.0000100, $0.0000160, and $0.0000245, signaling a potential broader trend reversal. Conversely, a breakdown below support could prompt further declines.
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Shiba Inu Launches SOU NFT
The Shiba Inu ecosystem recently launched the SOU (Shib Owes You) NFT initiative to compensate users affected by the September 2025 Shibarium hack. However, K9 Finance claims it has been excluded from the program despite being one of the largest impacted communities.
K9 Finance cited a year-end statement from Shiba Inu developer Kaal Dhairya promising restitution for affected users. The exclusion follows K9 Finance’s plan to sunset all Shibarium-based products by February 25, 2026, approved by its DAO after the bridge exploit.
The company urged users to withdraw assets from its Bonecrusher platform before the sunset date and contact the SHIB team with any unresolved claims. Market participants are closely monitoring SHIB’s price action and NFT developments, as the interplay between technical support and ecosystem confidence could determine the token’s next major move.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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