Shiba Inu price is showing signs of stabilizing as technical support builds, fuelled by T. Rowe Price’s ETF filing, which includes SHIB alongside major altcoins.
Summary
- Shiba Inu price is forming a support base around $0.0000090–$0.0000095, with momentum indicators signaling waning bearish momentum.
- T. Rowe Price’s Multi-Coin ETF filing includes SHIB alongside major altcoins, suggesting growing institutional recognition.
- Elon Musk’s recent X post about Floki reignited dog memecoin hype, which could spill over to SHIB.
Shiba Inu price technical analysis
Shiba Inu (SHIB) price, like many altcoins, continues to consolidate at lower levels following the sharp sell-off on October 10, which coincided with a broader crypto market crash triggered by escalating trade tensions.
The memecoin appears to be forming a short-term support base around the $0.0000090–$0.0000095 zone, where buyers are gradually stepping in to absorb selling pressure. Both the RSI and MACD indicate that bearish momentum is beginning to lose strength. The MACD lines are steadily converging after an extended bearish phase, signaling that a potential trend reversal may be forming.
However, as far as technicals are concerned, the market has yet to demonstrate the sustained buying pressure needed to shift momentum in favor of bulls. A clear signal of strength would come if SHIB price manages to close above the $0.00001129 — the previous swing high — backed by rising volume and a confirmed MACD crossover. Such a move would validate improving sentiment and could trigger a short-term rally toward the $0.0000125 (0.618 Fib) zone, which would mark an approximately 25% gain from the current price of $0.00001001.
In addition to waning bearish momentum, the bullish case for SHIB price is strengthened by the recent T. Rowe Price’s Multi-Coin ETF filing. Assets eligible for inclusion within the fund include Shiba Inu alongside Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Dogecoin, Hedera, Bitcoin Cash, Chainlink, and Stellar.
The fact that a $1.7 trillion asset manager—long regarded as one of the more conservative firms in TradFi—is proposing exposure to SHIB alongside major altcoins, carries significant implications for the memecoin’s long-term outlook.
Additionally, Shiba Inu price could get a boost from the renewed dog memecoin hype after Elon Musk’s recent X post, which sent Floki (FLOKI) surging.
Source link