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Shiba Inu has hit the most important support level in its history, and analysis suggests there is no better time to buy than now.
Shiba Inu ($SHIB) reached this following a string of bearish price setups in the past few months. The meme coin has not had a single green candle in six months, correcting 60.7% from its September 2024 high of $0.00001484 to the current market price of $0.00000582.
Key Points
- Shiba Inu has reached the most important support level in its history, and analysis suggests there is no better time to buy than now.
- This support ranges between $0.0000066 and $0.0000051, and the meme coin sits well within it.
- Shiba Inu has also reached the support trendline of a bearish price channel, further fueling rebound prospects.
- $SHIB trends within a Gartley harmonic pattern, which could spur an explosive upward move upon a breakout.
- Analysis suggests this might be the best time to buy into Shiba Inu.
$SHIB at Crucial Support
Notably, the downtrend has now brought $SHIB to a price level that analyst Caro (Vivaforexwithcaro) described as the most important support zone for the token. An accompanying weekly chart shows that this support ranges between $0.0000066 and $0.0000051, and the meme coin sits well within it.
Further, the TradingView analysis highlighted that Shiba Inu has also reached the support trendline of a bearish price channel. The token has been consolidating around the high of $0.00001765 in May 2025.
A combination of these two price bottoms suggests Shiba Inu is at a low price that the analyst considers its bottom. The fact that it has still not broken this support in its five-year history further adds to the optimism that it will hold.
Shiba Inu Forms Gartley Harmonic Pattern
The commentary also spotlighted $SHIB’s trend within a Gartley harmonic pattern. Notably, this pattern features bearish and bullish formations, and the meme coin is currently following the latter.
For context, this structure follows an ABCD price swing, with $SHIB making lower highs and lower lows before an eventual breakout. The A wave formed during the rally to the March 2024 high of $0.0000456. The B wave followed, dragging prices down to the August 2024 low of $0.0000183.
Following this was the lower high C wave, which took $SHIB to the December 2024 high of $0.0000332. Currently, the corrective D wave is underway and is usually the last bearish push before a breakout to new highs.
Best Time to Buy
According to the analyst, this is the best time to buy into Shiba Inu. He specifically noted that there is “never a better time to rack up some $SHIB,” with the sentiment supported by his belief that a bullish scenario could develop from the current levels. However, this remains speculative and should not serve as investment advice.
Notably, this aligns with a couple of past analyses that view the support as a stronghold that could prove insurmountable for bears. While the significance of the support cannot be overemphasized, there is no guarantee that it will hold.
Moreover, CryptoQuant data shows that the $SHIB exchange reserve has been increasing drastically over the past few days, signaling distribution rather than accumulation. This indicator suggests buying pressure has not yet returned, which could be detrimental to prices.
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