- SHIB holds firm at $0.000012 as bulls defend against sharp market selloff.
- Spot and futures volumes surge, signaling renewed trader interest and dip-buying activity.
- Technical indicators suggest potential rebound if RSI climbs and support remains intact.
Shiba Inu — SHIB , stood its ground on August 5, as the crypto market faced a sharp selloff. While many tokens tumbled, SHIB found reliable support at $0.000012. Although it shed 4% intraday, bulls stepped in fast. Spot and futures trading volumes surged, signaling that traders viewed the dip as a chance to buy rather than bail. This reaction wasn’t just lucky timing—it reflected resilience. SHIB holders seem unwilling to let the price slip without a fight. That quiet confidence could become the key to a short-term rebound if current market trends hold.
Volume Surge Hints at Bullish Intentions
Throughout the day, CoinMarketCap recorded a strong uptick in spot trading volume. SHIB’s volume rose nearly 40%, jumping from $154 million to over $215 million by the time markets closed. Such a spike often signals fresh interest. Buyers clearly viewed the drop as a discount. That kind of response shows strength, not weakness. Meanwhile, the derivatives market joined the action.
Coinglass data revealed a 25% rise in SHIB’s futures trading volume . More traders stepped into leveraged positions, suggesting growing belief in a rebound. Even more telling was the positive shift in the long-short ratio. That metric often reflects sentiment among aggressive speculators. A rising ratio suggests more traders expect prices to climb.Looking at the daily chart, SHIB’s price hovered right at the $0.000012 support zone.
Can SHIB Bounce Back Toward $0.000015?
Technical indicators currently offer a mixed picture. The Super Moving Averages (5, 8, and 13-day) show tight clustering. The 5-day and 8-day lines have slipped below the 13-day, hinting at short-term bearish pressure. Still, the closeness of these averages suggests that trend direction remains uncertain. A push above the 8-day SMA at $0.00001238 could reset momentum in the bulls’ favor. The RSI adds more detail. It recently bounced from oversold levels below 39 and now sits near 45.
This movement shows that selling pressure may be slowing. A climb above 50 would likely confirm bullish momentum. In that case, SHIB might aim for $0.000013 next, with $0.000015 still in reach if volume remains strong. Of course, failure to hold the $0.000012 support would change the outlook. Immediate support lies at $0.0000115. Falling below that could expose SHIB to deeper losses, possibly dragging the price toward $0.0000105 or even $0.0000095.
A confirmed lower low and a fresh RSI breakdown would flip sentiment bearish again. For now, SHIB bulls appear determined to defend key ground. With volume rising and momentum stabilizing, the fight isn’t over. And if confidence holds, a bullish breakout may come sooner than most expect.
