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SHIB 
XRP SHIB has made milestone progress in Japan, standardizing market access, and facing resistance to price recovery.
SHIB has completed registration in the Japanese market and has obtained regulated market access qualifications. However, after experiencing a sharp sell-off within the day, its price recovered and encountered resistance around $0.0000555.
SHIB rebounded from US$0.0000525, driven by the return of buying, but falling trading volume made this rally face the test of key resistance.
After a day of sharp declines, Japan's regulated markets have added new impetus to the SHIB, with its price currently remaining above US$0.00000540.
SHIB's milestone event in the Japanese market has given it regulated market access. At the same time, the token has recovered from a sharp decline and is approaching resistance above the intraday range.
Japan Registration opens new market channels
Shib announced important progress of SHIB in the Japanese market through the latest social media news. According to the news, SHIB has become one of six assets supported by Laser Digital Japan. The move came after the company completed its regulatory registration in Japan.
The first asset portfolios include Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin and SHIB. Laser Digital Japan completed its registration on August 21. This is the first time in four years that a new exchange service provider has been approved.
Laser Digital Japan, backed by Nomura Securities, will provide liquidity services first. Its clear goals include serving domestic virtual asset service providers. The company also plans to launch services for institutional digital asset trading.
Japan's regulatory framework is also moving towards more comprehensive regulation. Recent reform measures are likely to help strengthen regulation of crypto assets, and relevant measures will take effect from 2027.
Prices rebounded after a sharp drop in the day
According to CoinMarketCap chart data, as of writing, SHIB was trading at approximately US$0.000005519. The token has increased by approximately 0.59% in the past 24 hours. However, towards the end of the trading session, the price suddenly fell to $0.0000525.
Prices at the beginning of trading were concentrated in the range of US$0.00000550 to US$0.0000552. The price was then pushed higher to about $0.0000542 and selling began to dominate the market. Buying immediately stepped in and pulled the token back from below $0.0000550.
Selling pressure intensified since then, pushing the price to approximately US$0.0000525. Near the session lows, several attempts to rebound ended in failure. Prices eventually reached higher lows and began to rise steadily.
This rally then pushed SHIB above US$0.0000530 and US$0.0000540. Prices further recovered to approximately US$0.0000552. This rebound has made the range of US$0.00000552 to US$0.0000555 a direct resistance level.
Trading volume fell, resistance remained close at hand
As of writing, prices are receiving support at the $0.0000540 level, which is near the bottom of the current pattern. Below the region, there appears to be demand in the $0.0000525 to $0.0000530 range. If prices fall below this range, the newly formed rebound structure will be weakened.
Meanwhile, the market value of SHIB is close to US$3.25 billion. It reported 24-hour trading volume of approximately $122.2 million. During the statistical period, trading volume fell by 66.82%.
The chart shows that the number of SHIBs in circulation is approximately 589.23 trillion. The maximum supply is close to 589.55 trillion pieces. The platform also records approximately 3.07 million holders.
The development of the Japanese market has added regulated market infrastructure to SHIB's extensive expansion. However, price movements remain focused on nearby technical levels. A breakthrough of US$0.0000555 would challenge the current range, and if rejected, the existing resistance structure would be maintained.
