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Following
SHIB The recovery of SHIB requires continued demand support, as the token is still down approximately 94% from its all-time high of US$0.00008845. The recent surge in liquidations suggests that leveraged SHIB positions remain vulnerable to sudden market fluctuations on major trading platforms. Returning to US$0.00005114 may improve the short-term structure, while US$0.000049 remains a key downside level for current active traders.
The recovery prospects of SHIB remain unclear, with token prices well below their 2021 peak. Recent volatility and liquidations have caused traders to focus on nearby prices, while currency holders debate whether records can be set again.
ATH gap sparks long-term controversy
SHIB POSSSOR recently asked currency holders whether SHIB could one day return to historical highs. The post called on supporters to raise their hands if they still have confidence. SHIB's response to this question is far from the record set in 2021. According to market data as of October 28, 2021, the trading price of SHIB is US$0.00008845. Unlike open source data, the token has depreciated sharply, falling to approximately $0.0000504, down about 94% from the previous record.
A gain of about 17.5 times is needed to return to its previous highs. Such a trend requires continued demand over the broader market cycle, while liquidity and participation must also expand significantly. Circulation supply also adds another layer of consideration to the ATH discussion. Data shows that the number of SHIBs in circulation is currently approximately 589.23 trillion. At $0.00008845, that supply would correspond to a much larger market value.
Price Trend Test Near Resistance
There has been a significant sell-off in recent days, followed by a slight rebound. As of writing, SHIB was trading at US$0.00005059, down 1.16% in 24 hours. The market value is approximately US$2.98 billion, and the transaction volume is approximately US$79.8 million.
The price briefly rose above US$0.000052, entering positive territory, but then fell back into sellers 'territory. The decline immediately broke through the $0.0000515 - 0.000052 area. The selling accelerated until the price approached approximately $0.000049. Buyers responded around $0.000049, pushing the price back above $0.000050. The rebound is still weak, with resistance around US$0.000051 - 0.00005114. If prices rise above this point, the previous high of $0.000052 will become the target. However, as prices approach resistance, they may fall back to $0.000050 again. If it falls below US$0.000049, the recent low will face another test. Therefore, these price points remain the key to the current market structure.
Liquidation data reveals leverage risk
Perpetual contract clearing chart shows that there were multiple sharp fluctuations between March and late August. Except for major volatile events, most daily activities are relatively mild. The largest clearing cluster appears around July 24 to 25. 
During this period, the peak of red clearing was close to US$1.36 million. During the same period, green clearing activities also reached significant levels. Composite activity suggests that positions are quickly closed during periods of increased price volatility. Another major incident occurred around August 19 and 20. The green liquidation amount approached or exceeded US$680,000, and red activity increased at the same time. At the same time, SHIB prices rose sharply before falling back from high levels.
Exchange data showed that MEXC led with open interest contracts of approximately US$13.09 million. KuCoin followed closely with $10.08 million, while Bitget recorded $9.5 million. LBANK led the way with US$23.07 million in displayed trading volume and nearly 59.63 million futures contracts.
