SHIB: bounce or breakdown? key levels to watch this week
SHIB. Wondering if this meme dog is finally running out of sellers or just taking a breath before another leg down? According to market chatter, meme coin volumes have cooled after the last hype spike, even while the SHIB ecosystem keeps teasing burns and layer‑2 upgrades. That combo usually gives us one thing: sharp, dirty squeezes in both directions.
On the 4H chart we’re sitting in a big demand block around 0.0000053‑0.0000055 after a clean staircase down. RSI is hovering just above oversold and flattening out, while VPVR shows the main volume node higher up near 0.0000059‑0.0000062, which looks like a price magnet if buyers step in. I’m leaning toward a short‑term bounce rather than fresh breakdown from here, driven more by positioning than pure fundamentals.
My base plan: look for a 4H close back above the local micro‑range high to validate a long scalp toward 0.0000059 first, then maybe 0.0000062 where heavy supply waits ✅. If this zone fails and we get a clean 4H close below 0.0000052, I flip the script and expect continuation to the next liquidity pocket lower around 0.0000048‑0.0000050 ⚠️. I might be wrong, but for now I’m watching this support like a hawk and planning to ride whichever side breaks with momentum.
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