Shiba Inu (SHIB/USD) nears a demand zone

• Shiba Inu recovers 1.21% on Monday after bearish move

• Devs Teased ‘Countdown’ As Some Fans Speculated A Sibarium Update

• SHIB Could Next Touch June Lows

Shiba Inu (SHIB/USD) gained 1.21% on Monday, trading at $0.0000087. The token has slightly recovered from the $0.0000080 low over the weekend. This is a critical zone for SHIB, or rather, the cryptocurrency could touch a demand zone that has been critical for bulls in the past.

Historical price action for SHIB indicates that $0.0000072 is a potential demand zone for SHIB. At the height of the bear market earlier this year, SHIB embarked on a strong recovery after he settled into this zone in June. With this rise, the SHIB hit a high of $0.0000179 in August before another bearish cycle followed. Among intraday rises, this is the next level to monitor SHIB.

Meanwhile, the Shiba Inu community speculates about the Sibarium beta test. This was after a tweet over the weekend teased users with a “special countdown.” At press time, the countdown was still running at 7 hours and 48 minutes. It’s unclear what this countdown is about, but users have started speculating about the Sibarium update. Others have subdued it as a distraction to unimportant partnerships and employment.

As the “countdown” unfolds, Shiba Inu fans are waiting for something important to pop out. Perhaps this could be in line with reports that SHIB exists alongside BTC and ETH, the most-watched cryptocurrencies on Binance. However, technical indicators point to further declines.

SHIB recovers slightly from oversold levels near June lows

SHIB/USD chart by TradingView

On the daily chart, SHIB is slightly higher after just breaking above the June low of $0.0000072. The trend remains bearish and a June bottom is likely. The RSI reading is still below the midpoint, indicating bearish control.

When will SHIB become bullish?

$0.0000072 Could Attract Buyers Again If the Bulls Cannot Capitalize on the Current SHIB Price recovery. This is the level to watch for bullish reversal signals.

Where can I buy it

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