- Shiba Inu stabilizes – could this signal the end of bearish trends?
- SHIB price consolidation hints at potential upcoming market recovery.
- Is Shiba Inu ready for a bounce after recent slowdown?
Shiba Inu (SHIB) has shown signs of stabilizing after weeks of steady decline, sparking speculation that the worst may be over for the popular meme coin. According to TradingView, SHIB has experienced a persistent downtrend throughout November, with the price continuing to print lower highs and lower lows. However, recent price action indicates a significant shift, with SHIB now holding steady within a narrow range between $0.0000086 and $0.0000090.
This price consolidation could mark the end of the bearish trend, suggesting that SHIB might be gearing up for a potential reversal. Instead of continuing its downward trajectory, the price has started to move sideways, a behavior typically seen when a market is preparing for a shift in direction.
Signs of Bullish Potential Emerging
What’s more, SHIB’s price stabilization is being backed by decreasing selling pressure. Previously, sharp red volume spikes signaled intense bearish activity, but these have dwindled in recent days.
This decline in volume suggests that sellers are losing their grip on the market. The absence of panic selling and large stop-loss cascades indicates that the bearish momentum is losing steam, and a market correction may be on the horizon.
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Another crucial indicator is the Relative Strength Index (RSI), which has remained stuck in the low 30s for an extended period. Unlike past periods of intense selling, where RSI would plunge deeper into oversold territory, it has flattened out. This shift indicates that the selling momentum is losing power, and SHIB may be ready for a bounce if buyers step in.
The Calm Before the Storm?
While SHIB hasn’t yet reversed or produced any bullish structures, the fact that it is no longer in free-fall could signal the beginning of a relief phase. The stabilization of the price suggests that the market is transitioning, and a period of sideways consolidation often precedes a strong recovery.
Although it’s too early to predict a full reversal, SHIB’s price action shows that the downward trend may have exhausted itself. If this pattern continues and buying pressure returns, SHIB could see a significant bounce. For now, the market seems to be preparing for its next phase, and the stabilization could very well be the calm before a major comeback.
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