Shiba Inu (SHIB) Price Dips 7% as Expert Eyes $0.0000142-$0.0000128 Zones for Rebound Catalyst

Shiba Inu (SHIB) has experienced a notable decline, with its price falling over 7% to approximately $0.00001380 on Monday. The meme coin’s downward movement has drawn attention from market analysts, including CJ, a market expert who recently outlined a potential opportunity for a rebound. In a tweet shared by TheCryptoBasic, CJ highlighted a specific price range—between $0.0000142 and $0.0000128—as a critical area to monitor [1]. He described this zone as a “mid-range demand zone,” suggesting that a breakout from this level could signal the beginning of a significant upward trend [1].

SHIB has been confined within a well-defined trading range since February, oscillating between $0.00001004 on the lower end and $0.00001764 on the upper end. The coin has repeatedly tested these boundaries without sustaining a decisive move in either direction. For instance, in April and June, prices near the bottom of the channel bounced back, while a May rally to the upper boundary was met with rejection [1]. The recent dip has positioned SHIB near the midpoint of this range, aligning with CJ’s focus on the $0.0000142 to $0.0000128 zone as a potential catalyst for a reversal [1].

CJ’s forecast hinges on SHIB consolidating within the identified demand zone before initiating a recovery. According to the analyst, a rebound to $0.00001764 is plausible, with a further upside target of $0.0000190, representing a gain of over 34% from the current price [1]. If SHIB surpasses the $0.0000190 threshold, the price could extend toward $0.000024 or even $0.000035, depending on on-chain supply dynamics [1]. However, CJ emphasized that the lower edge of the demand zone, $0.0000128, serves as a crucial support level. A breakdown below this point could invalidate the bullish setup [1].

The market is now closely observing whether SHIB can regain upward momentum from its current position. Traders are analyzing on-chain activity and volume patterns to gauge the likelihood of a sustained rally. While CJ’s analysis presents a structured framework for potential price action, the outcome remains contingent on broader market conditions and investor sentiment. The recent volatility underscores the speculative nature of meme coins, where price movements often reflect trading psychology as much as fundamental metrics.

Traders and investors are advised to approach such forecasts with caution. CJ’s projections are based on technical analysis and do not account for external factors such as regulatory developments or macroeconomic shifts. As SHIB remains within a tight range, the key for market participants will be to monitor price behavior around the $0.0000142 to $0.0000128 zone for signs of a breakout or breakdown. A successful rebound from this level could reignite interest in SHIB, but a continued consolidation or further decline might reinforce its status as a stagnant asset in the crypto space.

Source: [1] [Shiba Inu (SHIB) Price Drops, Expert Says This Zone Could Start a Major Rebound] [https://coinmarketcap.com/community/articles/688194c530ae1d2233474a4e/]