SHIB Risks Deeper Losses If This Support Fails

In Brief

• SHIB is pressing against a critical weekly support level.
• A hold would keep consolidation intact, while a break risks deeper losses.
• Weekly closes are key for the next directional signal.

Shiba Inu (SHIB)’s weekly chart is compressing into a narrow decision zone, its price action pressing against a level that has historically defined whether SHIB stabilizes or risks sliding further.

Indeed, after months of lower highs, the next few weekly closes could determine which side wins, whether buyers can defend the current support zone or if sellers force a deeper reset, judging by the observations shared by popular cryptocurrency market expert Ali Martinez on February 3.

What The Weekly Chart Is Showing

According to the chart shared by the crypto industry analyst, SHIB’s structure now hinges on its ability to stay above the $0.0000066721 support level. That zone has repeatedly acted as a floor during past consolidations, making it one of the most technically important areas on the chart.

The broader trend, however, remains weak. SHIB has spent most of the past year forming lower highs, signaling persistent selling pressure rather than aggressive accumulation. Each bounce has been smaller than the last, a classic sign that upside conviction is fading.

Weekly charts tend to matter more than short-term moves because they reflect longer-term positioning. When a level like this fails on a weekly basis, it often opens the door to testing deeper historical demand zones below.

For Shiba Inu $SHIB, everything depends on its ability to hold above the $0.0000066721 support level. pic.twitter.com/uRqcBOCtnw

— Ali Charts (@alicharts) February 3, 2026

Why This Level Matters For Traders And Holders

For the time being, SHIB is changing hands at the price of $0.000006853, which indicates an advance of 1.6% in the last 24 hours, amid declining 10.2% across the past seven days and losing 23% on its monthly chart, according to the latest data.

*SHIB price 7-day chart. Source: CoinGecko*

Holding above support keeps SHIB in a consolidation phase, where range-bound trading and gradual accumulation remain possible. It also preserves the chance for momentum to rebuild if broader market conditions improve.

A clean breakdown, however, would shift risk sharply. Below this zone, the chart shows little structure until much lower levels, increasing the probability of faster downside moves as stop-losses trigger and liquidity thins.

For traders, this is a clarity moment. The chart has reduced the noise to a signal question: does support hold or does the downtrend extend? Until there’s an answer to this, SHIB remains technically vulnerable and tightly watched.