- Shiba Inu tests $0.0000095 support as bearish pressure limits recovery potential.
- Weak Shibarium activity and low TVL signal reduced on-chain adoption.
- Technical indicators show limited bullish strength and risk of further decline.
Shiba Inu is back in the spotlight, but not for the usual meme coin hype. The token now faces a serious test at the $0.0000095 support zone. Market volatility has created mixed emotions among traders, swinging between hope for recovery and fear of another dip. With selling pressure rising and on-chain activity slowing, this level could decide whether Shiba Inu rebounds or slides further.
Weak On-Chain Activity Raises Concern
The Shibarium network , Shiba Inu’s layer-2 platform, continues to show worrying signs of weakness. According to DeFiLlama, the total value locked (TVL) has dropped to around $883,000, far below February’s $6 million peak. This steady decline signals limited engagement from developers and investors within the ecosystem. Such low participation suggests that decentralized finance adoption across Shibarium remains minimal.
Currently, SHIB’s DEX volume barely touches $8,800 over the last 24 hours. These figures highlight a slowdown in user activity, weakening the long-term use case narrative that once fueled optimism. When TVL and trading volumes drop together, confidence usually fades. Traders tend to move capital elsewhere, especially when network growth stagnates. Without renewed interest in Shibarium, the token may continue to face downward pressure.
Technical Signals Indicate Bearish Control
At press time, SHIB was trading near $0.00001018 after a 1.14% daily decline. The trading volume stands around $151 million, down 2.89% from the previous session. Price action briefly touched a low of $0.00001002 before bouncing slightly, yet it failed to clear resistance at $0.00001041. More concerning is the drop below the 7-day moving average at $0.00001021.
The 23.6% Fibonacci retracement level at $0.000011688 also acted as a ceiling, reinforcing bearish dominance. Technical indicators further confirm weakness. The MACD line signals fading bullish strength, while the RSI hovers near 41, showing potential for more downside. Traders are now watching the critical $0.0000095 support closely. A break below this level could trigger a deeper correction.
The 200-day moving average, located near $0.0000127, remains a key obstacle for any meaningful recovery. Since September, a persistent “death cross” pattern has reflected ongoing bearish sentiment across the SHIB market.Despite these challenges, many holders remain patient, believing that stabilization near the support zone could set the stage for a gradual rebound once market conditions improve.
Shiba Inu struggles to stay above the $0.0000095 support as bearish momentum grows. Weak on-chain activity and declining TVL add pressure to the token’s outlook. Technical indicators point to limited buying strength in the short term. Traders now look for stronger fundamentals or renewed demand to prevent a deeper fall and spark recovery.
