Shiba Inu has recorded roughly 1.34 billion SHIB in fresh trading volume over the past 24 hours, following a broader crypto market deleveraging event that wiped out more than $1 billion in leveraged positions. The surge in activity appeared to reflect two distinct waves: forced selling during the initial flush and subsequent dip-buying as the token stabilized near support.
On the SHIB/USDT chart, the price declined from $0.00000580 to $0.00000534 over two days, with the week's heaviest trading volume appearing on a red candle. The token printed a low of $0.00000510 on Thursday before recovering, leaving a long lower wick that suggests buyers stepped in near the bottom. SHIB is currently trading around $0.00000534, sitting near the orange average at $0.00000529. The most recent daily candle is green, indicating the support zone has held so far, although the bounce remains unconfirmed because volume on the rebound is still small.
Key resistance sits between $0.00000545 and $0.00000549, where a cluster of moving averages is positioned, while the longer black line near $0.00000565 represents a more significant test after SHIB failed to hold that level this week. The RSI is around 44, showing weakness but not oversold conditions. A daily close above $0.00000549 would be the first positive sign for bulls, with targets at $0.00000565, $0.00000580, and $0.00000600. Conversely, a close below $0.00000529 would cancel the recent bounce and expose supports at $0.00000510 and $0.00000500. Sustained high-volume green candles near support could open the path to $0.00000565; otherwise another test of $0.00000510 remains likely.
