Shiba Inu (SHIB) Price Is Crucial, with Traders Closely Watching Support at $0.0000115 and $0.00000815

Crypto analyst Ali Martinez pointed to these price zones as make-or-break levels for SHIB. If the token holds above them, bulls could regain control.

Shiba Inu (SHIB) price has been a topic of discussion among traders, with key support levels at $0.0000115 and $0.00000815. According to crypto analyst Ali Martinez, staying above these price zones could set the stage for a price recovery.

At the same time, crypto analyst Crypto Sat highlighted a falling wedge pattern forming on SHIB’s one-hour chart. This technical setup is typically bullish, and a breakout above 1260 could push Shiba Inu price toward 1280–1320.

However, if SHIB struggles to clear resistance at 1260, it could drop to 1220 before making another breakout attempt.

Shibarium’s Upgrades Could Boost Shiba Inu Price & Ecosystem

While traders are focusing on the price action, Shiba Inu’s ecosystem is also expanding. The team behind Shibarium, the project’s Layer-2 network, is rolling out two new features to expand its utility.

The first, Pump Token, will be a voting and discovery tool for new tokens. Users can rate and rank projects, helping the community identify promising assets early.

The second upgrade introduces a simplified token creation tool, allowing users to launch tokens with just a few clicks.

These improvements, alongside ongoing token burns, could positively impact the Shiba Inu price and strengthen its long-term appeal. While the token is known for its volatility, its growing ecosystem offers more than just speculation.

SHIB Reserves on Exchanges Hit a New Low—A Bullish Signal?

Data from CryptoQuant revealed that Shiba Inu reserves on exchanges have reached an all-time low of 93.57 trillion tokens. This trend indicates that more investors are moving their SHIB to private wallets instead of leaving them on exchanges, a move often associated with long-term holding.

A shrinking exchange supply could limit selling pressure, setting the stage for future price gains. This comes as 58% of SHIB holders have kept their tokens for over a year, showing a strong commitment despite recent Shiba Inu price fluctuations.

Whales Adjust Holdings as SHIB’s Next Move Takes Shape

According to Glassnode, early Shiba Inu (SHIB) holders managed more than 20% of the total supply. They purchased at low prices and later capitalized on price surges to take profits.

While large holders still own 74% of SHIB’s total supply, retail investors have started stepping in, shifting market concentration.

Crypto analyst Javon Marks remains bullish, setting a target of $0.0081, a potential 5x price increase. Marks argues that Shiba Inu price has already broken through key resistance zones, which could fuel further gains if momentum continues.

Shiba Inu Millionaires Are Declining: What It Means for the Market

Despite its growing ecosystem, SHIB’s price struggles have led to a decline in millionaire addresses. According to IntoTheBlock, wallets holding over $1M in SHIB have recently dropped from 880 to 799.

This trend mirrors the 23% Shiba Inu price decline over the past month. Some large holders have exited, but others are still holding. Addresses managing $100K to $1 Million in SHIB now control $533.63 million worth of tokens.

Retail interest has also changed. Wallets holding 1M to 10M SHIB fell to 568,950, down from 570,000 last month.

Will Shiba inu price Break Out or Face More Pressure?

The next move of SHIB is still up in the air, but there are signs that a rebound could be on the horizon. A falling wedge pattern, typically a bullish signal, was forming. If Shiba Inu price stays above $0.0000115, it could trigger a breakout.

On-chain data suggests that selling pressure is easing, with exchange reserves hitting record lows. At the same time, Shibarium’s upgrades are adding new use cases, which could help boost long-term demand.

However, there are challenges. SHIB price has struggled recently, and the number of millionaire holders is shrinking, showing that some big players are cashing out.