Shiba Inu Approaches Critical Level Amid Declining Exchange Reserves

Shiba Inu is once again testing a crucial price point that has repeatedly shaped its market trajectory this ￰0￱ token is nearing a major support level that has historically triggered strong rebounds whenever tested. Coinvo, a Market analyst, believes that the coming days will determine whether Shiba Inu continues its upward momentum or faces deeper ￰1￱ data also points to easing sell-off concerns, as exchange reserves of SHIB tokens hit a two-year ￰2￱ Point to $0.00001150 as Key Support Renowned crypto analyst Coinvo recently highlighted that Shiba Inu is approaching a decisive ￰3￱ describing the move as a “major resistance test,” Coinvo’s chart actually emphasized $0.00001150 as the most critical support zone for ￰4￱ data shows that this level has repeatedly halted sell-offs and spurred ￰5￱ March, SHIB tested the zone before rebounding to around $0.000014.

A similar trend unfolded in April when the token climbed back toward $0.00001550. More recently, in late June, Shiba Inu once again fell to the same level during heightened volatility sparked by the armed conflict between Israel and ￰6￱ the geopolitical pressure, buyers stepped in, driving SHIB back toward $0.00001570 in July.