The popular meme coin Shiba Inu (SHIB) has been experiencing increased selling pressure and has entered a downtrend after a strong rally in late 2024. Its current price is around $0.00001389, and technical indicators suggest it may be approaching oversold conditions, which could trigger a potential bounce. However, strong resistance levels present a challenge for the bulls. The article analyzes SHIB's price structure, support and resistance levels, and potential scenarios to determine if a recovery or further downside is likely. The key support level is $0.00001300, while the resistance level is $0.00001500. A breakout above resistance would indicate a potential shift in momentum and a move towards $0.00001850. Traders must watch how SHIB reacts near $0.00001300 in the coming days to determine its future direction.



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