Analysts are closely watching support levels for the Shiba Inu (SHIB) token, with a potential buying zone identified at around $0.00001231. SHIB has been under selling pressure, experiencing declines over the past week, month, and year. However, a breakout from a falling wedge pattern earlier this year had led to a strong upward move. The token faces resistance levels at $0.00001693 and $0.00002485, with a long-term target of $0.00007380 based on Fibonacci projections. In terms of fundamentals, the recent introduction of Shibarium, a layer-2 network for low-cost transactions, has added utility to SHIB, but real-world applications are needed to drive adoption and potential price gains.



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