Shiba Inu Price Analysis: Will Weekly Rebound Test Key Fibonacci Levels?

As reported by Biji.com, Shiba Inu (SHIB) has rebounded from a weekly downtrend and is now approaching key Fibonacci resistance levels. SHIB is currently trading at around $0.00000857, with a 1% decline in the last 24 hours. The token found support near $0.00000833 at the start of the week and later rebounded to a local high of $0.00000892 in late November before retreating into a tight consolidation range. SHIB's market cap remains around $5 billion, with a 1.04% drop in the past day and a 12.3% decline over 14 days. Analysts are watching whether the recent rebound signals early accumulation or if the bearish trend will continue. On the weekly chart, SHIB is below key Fibonacci retracement levels drawn from the previous major rally. The next critical test is whether the price can reestablish above the 1.0 Fibonacci level at $0.000010. If SHIB closes above this level on the weekly chart, it could open the path to the 0.786 retracement at $0.0000113. A failure to break above the 1.0 Fibonacci level may push the price toward the 1.618 extension at $0.0000064. The Stochastic RSI shows the market remains weak, with both lines in oversold territory but no strong bullish crossover yet. Recent liquidation data shows most losses came from over-leveraged long positions, with $139,600 in liquidations in the past 24 hours, mostly from longs. After a prolonged decline, the market may shift to consolidation or a minor rebound as short-term volatility subsides.