Bitcoin at ₱4,194,520 ($70,000), SHIB Tests $0.0000058 Support
Bitcoin has retreated to ₱4,194,520 ($70,000) from a prior high of ₱7,190,607 ($120,000), with the 200-day moving average now sloping downward. SHIB trades between $0.0000058 and $0.0000060, testing support that could determine whether it drops to $0.0000052.
Key Takeaway
Bitcoin needs to reclaim $72,000 and SHIB must hold $0.0000058 or both face deeper corrections.
Bitcoin found a local bottom in the mid-₱3,595,303 ($60,000)s and has been building an ascending base in the $65,000 to $67,000 range. A breakout above $72,000 to $73,000 would flip the trend bullish and potentially push prices toward $75,000 or higher. But if Bitcoin fails to hold above $68,000, analysts expect a drop to $64,000 or even $62,000. The downward-sloping 200-day moving average is acting as resistance, keeping bulls on the defensive.
Shiba Inu faces its own test at the $0.0000058 to $0.0000059 support zone. The meme token currently trades well below the $0.000008 to $0.000009 levels it saw in early 2026. A break below current support could push SHIB down to $0.0000052 or lower. Analysts anticipate SHIB will consolidate between $0.000006 and $0.000010. A recovery above $0.0000065 would trigger short-term bullish momentum, but that level remains out of reach unless the broader market stabilizes.
Dogecoin has been equally weak, trading between $0.09 and $0.10 after sliding from a prior high of $0.30. The original meme coin faces the same headwinds as SHIB — weak market structure and fading retail interest. Bitcoin's next move likely depends on whether it can break above $72,000, while SHIB's fate hinges on holding support at $0.0000058.
This article was written based on reporting from U.Today.
