Shiba Inu Price Forecast: SHIB Holds $0.00000462 Support

Shiba Inu (SHIB) traded above the key $0.00000462 support level on Monday, with buyers attempting to defend short-term momentum.

Recent on-chain activity showed a noticeable spike in whale transactions on Friday. Following the activity, top non-exchange addresses increased their SHIB holdings, potentially signaling accumulation.

The derivatives market is also showing strong activity. Rising Open Interest and positive funding rates suggest traders are maintaining active positions in SHIB.

SHIB Key Levels

- Support: $0.00000462

- Current focus: Holding above $0.00000462

- Whale activity: Spike on Friday

- Open Interest: Rising

- Funding rates: Positive

- Bullish signal: Sustained trading above support

- Bearish signal: Breakdown below $0.00000462

If SHIB continues to hold above $0.00000462, the potential for a recovery could improve. However, a strong break below this level may increase short-term bearish pressure.