Community-Led Burns Fuel Shiba Inu's Bullish Push as $0.0000105 Hurdle Looms

Shiba Inu (SHIB) has stabilized above the critical $0.00001002 support level, with bulls eyeing key Fibonacci extensions as the token consolidates within a narrow trading range. As of October 29, 2025, SHIB traded at $0.00001034, reflecting a 4.77% weekly gain amid cautious optimism. The token's recent breakout past major Fibonacci levels and its community-driven token burn initiatives have bolstered short-term bullish sentiment, though traders remain wary of potential pullbacks, according to Cryptofront News.

SHIB's weekly chart reveals a sharp rally that pierced the 0.618 Fibonacci level at $0.000031247 and the 1.0 extension at $0.000088410, peaking near the 1.272 extension at $0.000185406. Analysts note that the token's ability to hold above the 9-period exponential moving average (EMA) at $0.00001020 suggests short-term bullish momentum. The Stochastic RSI, currently at 83.83, indicates overbought conditions, signaling a potential pause before further upward moves, the article noted.

Key resistance levels to watch include $0.0000105 and $0.0000110–$0.0000115. A sustained break above $0.0000105 could trigger a test of the $0.0000110–$0.0000115 range, while a failure to maintain the EMA may result in a retest of $0.0000095 support, the article said.

SHIB's market capitalization surged to $6.2 billion on October 22 before retreating to $5.7 billion, followed by a recovery to $6.08 billion by October 26. This volatility underscores cautious optimism among investors. Community-led token burn efforts, which remain decentralized, have also contributed to the token's resilience. Unlike centralized burns, SHIB's approach relies on market purchases and transfers to the burn address, with initiatives like Shibarium and exchange fee contributions further aligning with its decentralized ethos, the article reported.

Despite bullish indicators, traders are advised to monitor volume and order-book depth. The token's 24-hour trading volume of $97.8 million highlights moderate liquidity, though it lags behind leading altcoins. Analysts caution that while the Stochastic RSI's overbought reading suggests potential for a correction, sustained buying pressure could propel SHIB toward $0.0000115. Conversely, a drop below $0.00001002 may reignite bearish momentum, testing mid-level support zones, the article added.

The broader market's consolidation phase adds complexity, with SHIB's performance closely tied to macroeconomic trends and institutional crypto adoption. As the token navigates this critical juncture, its ability to maintain psychological support levels will be pivotal in determining the trajectory of its next move.