Shiba Inu Shows Resilience as Long-Term Holders Target $0.000012 Rally
Shiba Inu (SHIB) price hit a local low of $0.0000085 on May 12 before rebounding by 5% to break a seven-day losing streak. The recovery comes amid widespread weakness in the memecoin sector, with projects like PEPE and DOGE experiencing double-digit losses.
While media activity around SHIB remains subdued, on-chain data reveals strengthening fundamentals and growing conviction among long-term holders — factors that could support a sustained rebound.
Declining Social Volume Signals Fundamentals at Work
According to Santiment data, Shiba Inu’s social volume has dropped sharply over the past 10 days, falling from 2,706 mentions on May 5 to just 1,079 by May 15. Despite this decline in hype, SHIB’s price rose 5% between May 11 and May 15, indicating that the rally is being driven by real network fundamentals rather than speculative buzz.
Long-Term Holders Refuse to Sell
Another bullish signal comes from Shiba Inu’s “Age Consumed” metric, which tracks the average holding period of tokens being moved. Data shows a steep 85% drop in this metric since May 8, from 160.55 trillion to 22.62 trillion. This decline suggests that long-term holders are refusing to sell at current levels — a sign of confidence in future price gains.
As selling pressure weakens, SHIB could be poised for further upside, particularly if renewed investor interest enters the market once sentiment improves.
Key Resistance and Support Levels
On-chain market data from IntoTheBlock highlights $0.0000095 as the next major resistance zone, where 177.38 billion SHIB could be sold by short-term traders. A successful breakout above this level could push SHIB toward the next target at $0.000012.
On the downside, $0.0000085 remains a critical support level backed by a 277 billion SHIB buy wall — likely to absorb selling pressure. However, a decisive break below this level could invalidate the bullish outlook and drive prices toward $0.0000074.
Outlook
Despite the broader downturn in the memecoin market, Shiba Inu appears to be holding steady, supported by its loyal investor base and improving on-chain strength. If long-term holders continue to resist selling and SHIB overcomes its near-term resistance, a move toward $0.000012 remains within reach.
