After several weeks of price declines, Shiba Inu (SHIB) is preparing for a significant upside movement, according to a revelation disclosed today by market analyst Ali Martinize. Today, the analyst shared a bullish technical setup that signals that Shiba Inu could be readying for a huge upward move soon.
Today, the SHIB coin, a meme coin built on the Ethereum blockchain and named after the Japanese dog breed, popularly known as Shiba Inu, experienced a 4.6% decline, making its price currently trade at $0.055507. Also, its price has been down 9.5% and 22.2% over the past week and month, respectively, displaying its ongoing market difficulties. The reason for SHIB’s price fall is due to increased macroeconomic uncertainty currently being witnessed across the globe.
Shiba Inu Continues to Show Weakness As Bearishness Intensifies
Today, on Monday, March 2, 2026, Shiba Inu and several meme coins are trading around their major support regions after extending their losses from the previous week. As per data from CoinGecko, the prices of Dogecoin (DOGE), Pepe (PEPE), Pump.fun (PUMP), and Bonk (BONK) have been down 3.3%, 15.2%, 1.3%, and 1.9% over the past week, and technical indicators show their bearish momentum rising.
Their recent price actions closely track the wider cryptocurrency market downside move, pointing out heightened volatility that continues to weigh down the price of most crypto assets due to macroeconomic headlines that have already impacted weak market confidence in risk assets. The heightening tensions in the Middle East because of military conflicts between the US, Israel, and Iran have made global investors nervous and continue to weigh the wider crypto market down.
The current price of Shiba Inu is $0.055504.
SHIB Entering A Demand Zone
Today, crypto analyst Ali Martinize shared a weekly chart showing Shiba Inu is in a free fall, likely to rest on a well-established support zone at $0.00000138 soon, as indicated in the data above. However, as SHIB drops closer to the bottom of its level, buyers are likely to step in to participate in buying on dips.
According to the analyst’s technical chart analysis, the bears have pulled the price below the moving averages, and the SHIB/USD pair is likely to find support in the $0.00000138 level, an accumulation area where buyers traditionally purchase massive amounts of SHIB at market discounts.
Recent on-chain data indicates rising accumulation from big market participants (whales). Whenever smart money begins building positions during downturns, it typically suggests preparation for an enormous rally ahead.
