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<p>Crypto analyst and Head of Content at CaptainAltcoin, <a href="https://twitter.com/on_chain_pj/status/1746087860766118346?s=20" target="_blank" rel="nofollow">Petar (@on_chain_pj)</a>, recently posted some technical analysis on popular memecoin Shiba Inu (SHIB). He highlighted a key Fibonacci-based price level SHIB may reach if a crucial support level continues holding.</p> 
<p><strong>SHIB Sets Sights on $0.00001243 </strong><br>In his first tweet, Petar noted that<em> “SHIB continues its uptrend, eyeing a key level at $0.00001243i, aligning with the 2.618 Fib extension.”</em> This target level comes from the Fibonacci extension tool, which traders use to identify potential future price points based on recent swings and retracements.</p> 
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<p>As Petar explained, <em>“A break above could set sights on $0.000014 (4.236 Fib extension), marking a potential rise of approximately 42.86% from the current price levels.”</em> So if SHIB can decisively flip $0.00001243 into support, its next test would be the 4.236 Fib level around $0.000014. Such a move would represent a sizable 43% rally from SHIB’s price when Petar shared his analysis.</p> 
<p><strong>Crucial Support Must Hold </strong><br>However, Petar cautioned that SHIB bulls aren’t out of the woods yet. In a follow-up tweet, he noted an important support level that must continue holding:</p>  
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<p><em>“SHIB’s uptrend hinges on defending the crucial $0.000008 support level, coinciding with its 200-day moving average, a key factor for its potential surge towards higher Fibonacci extension targets.”</em></p> 
<p>This key support aligns with SHIB’s 200-day moving average, which is an important long-term indicator of the overall market trend. If SHIB were to dip back below $0.000008 and lose the 200-day MA, it would signal a macro trend shift that could invalidate the current Fib-based price targets.</p> 
<p>So while the Fib extensions offer an optimistic view, Petar stressed this depends on $0.000008 continuing to act as a floor for SHIB in the days and weeks ahead.</p> 
<p><strong>The Bottom Line for SHIB Holders </strong><br><a class="wpil_keyword_link" title="Shiba Inu" data-wpil-keyword-link="linked" href="https://captainaltcoin.com/shiba-inu-price-prediction/" target="_blank">Shiba Inu</a> has come a long way from its origins as a memecoin modeled after the original dog-themed crypto, Dogecoin. According to Petar’s analysis, SHIB looks poised to tack on more gains on its already impressive run over the past year. However, holding the $0.000008 support level remains key for SHIB to maintain its bullish momentum.</p> 
<p>If $0.000008 fails to hold up on any corrections, it could spell trouble for the SHIB uptrend. In that scenario, reaching the 2.618 Fib extension around $0.00001243 would become a much taller task. But as long as $0.000008 continues acting as a reliable floor, Petar believes SHIB has enough technical strength for a shot at $0.000014 in the not-too-distant future.</p> 
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<p>The post <a href="https://captainaltcoin.com/fibonacci-reveals-shhiba-inus-shib-nex-key-levels-but-this-support-must-hold-first/">Fibonacci Reveals Shiba Inu’s SHIB Next Key Levels, But This Support Must Hold First</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Fibonacci Reveals Shiba Inu’s SHIB Next Key Levels, But This Support Must Hold First

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