I noticed an interesting movement with Shiba Inu – the meme coin is holding at a key support level, which could mean a rebound is already close. Last week, SHIB dropped by 7%, and Sunday was especially bad with a minus 4%, but the price did not break through an important support level. That’s a good sign.

Looking at the hourly chart, it’s clear that the price has tested the demand zone around the 0.0000074 mark several times. The first time the token fell there was on January 18, when the low was 0.00000745. Then it rebounded, and since then, Shiba Inu has been fluctuating within a range. The upper boundary of the channel is around 0.0000082 – the price approached it a couple of times but faced selling pressure.

Yesterday, the price again touched the lower support boundary at 0.00000736 but rebounded again. This is already the second time this week that the bulls have prevented a breakdown below this level. In my opinion, this signals that major players see this zone as critical and are willing to buy on dips. Today, Shiba Inu’s price has already increased by 2% since the start of the day – it seems the recovery momentum is gaining strength.

If Shiba Inu stays above support and the momentum continues, the first target is the upper boundary of this channel. And if it breaks above that, a more significant rise can be expected. Of course, this is not a guarantee – the price could reverse and return to current levels or fall further. But at the moment, Shiba Inu’s price shows bullish signs. We’ll see if this support holds – that’s the key to everything.

Disclaimer: This is just an observation of technical levels, not financial advice. Do your own analysis before making any decisions.