Shiba Inu is holding an interesting level, and it looks like there could be a rebound here. On the hourly chart, the token has tested support around $0.0000074 several times and has bounced off it each time. This appears to be a significant level that the bulls are defending.

Last week, there was a 7% drop, but SHIB did not break through the critical zone. The price fluctuated between $0.0000074 and $0.0000082 — the upper boundary of the channel. Every time it moves above, selling pressure pushes it back down. But the fact remains that the lower support is holding.

What’s interesting now: if Shiba Inu’s price consolidates above this support level, the first target is the upper boundary of the channel. More serious movements could follow. In the last 24 hours, it’s already gained +5.7%, which looks like the beginning of a recovery.

But this is not a guarantee — the price could test the lower level again. As long as we stay above support, there’s a chance for a rebound. If we break below, we’ll be looking at new lows.