Shiba Inu ($SHIB ) plunges to crucial $0.00001283 support level after sharp decline, setting up potential bounce toward $0.00001330-$0.00001380 targets as traders eye reversal opportunity.
Shiba Inu has just delivered one of those heart-stopping moments crypto traders know all too well. SHIB suddenly nose-dived from $0.00001419 straight down to $0.00001283 – and that's exactly where things get interesting.
✨SHIB Price Finds Footing at Make-or-Break Level
The meme coin's latest tumble landed right on a support zone that's been battle-tested multiple times before. This isn't some arbitrary chart level – it's where buyers have consistently stepped in to halt previous selloffs.
The intraday chart shows a steep, almost vertical decline that caught traders off guard. But these dramatic moves often create the exact conditions needed for equally dramatic reversals. Market volume suggests the selling momentum is fading as SHIB holds near the $0.00001283 low, potentially setting up an accumulation phase.
✨Traders Eye Quick Recovery Targets
Technical analysts are mapping out bounce scenarios with entries between $0.00001280 and $0.00001290, targeting profits at $0.00001330 and $0.00001380. The first target represents a 3.7% gain, while the extended target offers nearly 7.5% returns.
The key catalyst is whether SHIB can reclaim $0.00001330 with convincing volume. If it does, history suggests we could see one of those explosive recovery rallies that meme coins are famous for – this exact support zone has triggered similar bounces before, turning disasters into profitable opportunities.
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