Shiba Inu Price Outlook: Will SHIB Break $0.000008 or Reclaim $0.00001?
- SHIB trades near a key floor after months of steady losses and fading strength.
- A drop under $0.000008 points to $0.0000066 level, while a rebound needs $0.000009 reclaimed.
- Open interest has collapsed, showing weak demand as SHIB approaches a decisive zone.
Shiba Inu has spent nearly a year fighting a slow but steady slide, and the pressure has only intensified in recent weeks. After touching its December peak close to $0.00003330, the token never found enough strength to build a lasting recovery. Instead, it slipped through the first quarter, then the next, and the next again.
The declines have stacked up: more than 12% gone in the past seven days, over 15% lost across a month, and a staggering 66% shaved off over the last year. Those drops have pushed SHIB into a familiar but critical corner, right above the $0.000008 support line that has acted almost like a guardrail during this long descent.
The market now watches one simple question: does that guardrail finally give way, or does SHIB find enough demand to climb back toward $0.00001?
A Channel That Has Controlled the Trend
SHIB has spent weeks moving inside a descending channel that has quietly shaped almost every turn since early October. Price swings inside the formation have become predictable: limited relief rallies that lose momentum near the top boundary and pullbacks that circle back toward the lower band.
Each swing reinforces the pattern, drawing out a staircase of lower highs and lower lows. At the moment, the chart places SHIB slightly above the $0.0000080 zone.
A climb from here would first need to push toward the middle of the channel before confronting stronger resistance at the upper edge, where the 61.8% Fibonacci retracement sits around $0.00001058. The structure remains heavy, but the levels are clear.
Indicators Offer Little Relief for Bulls
The technical indicators echo the same mood. SHIB continues to trade under the 50-day moving average, which hovers near $0.00001028, and even further beneath the 200-day at roughly $0.00001233.
All major moving averages, short and long, are angling downward. The slope alone tells the story of a market that has been drifting lower for months rather than one caught in a sudden correction. Moreover, the RSI reading sits around 37.
That number does not signal an immediate reversal, but it does show momentum fading. Oversold territory begins at 30, and SHIB has not touched that threshold yet, leaving enough space for a further move down if pressure persists.
Futures Activity Has Thinned to a Fraction of Its Peak
Data from the derivatives market adds an important piece. Earlier in the year, SHIB’s open interest approached $542 million as traders piled into its volatility. Those days look distant now. As of November 19, open interest has fallen to roughly $86.12 million. The drop represents one of the sharpest contractions in the current cycle.
A decline of that size usually signals traders stepping aside rather than positioning for a sharp move. Lower participation often translates to lighter liquidity, meaning price tends to react more strongly when it approaches important zones. SHIB is in exactly that situation now.
Related: 3 Reasons XRP Looks Ready To Break the Support at $2
The Levels That Decide SHIB’s Next Chapter
With the chart narrowing and participation thinning, SHIB sits at a decisive point. A break below $0.0000080 would clear a path toward $0.0000066, a level that aligns with the lower side of the channel.
Holding above support would shift attention to the 38.2% Fibonacci retracement at $0.0000090. Reclaiming that area would be the first sign that buyers are willing to step back in. From there, the next checkpoint sits near $0.0000098, followed by the round-number barrier at $0.00001.
SHIB has spent many months drifting lower, but the price once again approaches a level where markets tend to make firm decisions. Whether that decision involves a deeper slide or the start of a recovery depends on what happens at $0.000008.
