Shiba Inu (SHIB) shows technical resilience, holding above a key support level as analysts identify a potential bullish reversal pattern. The token’s price rose nearly 5% to $0.055742 amid this technical backdrop. Separately, the Shibarium layer-2 network addressed user concerns over wallet connectivity issues, attributing them to outdated settings and confirming network stability and asset security.
Shiba Inu is trading at $0.055742, marking a 4.92% increase over the last 24 hours as of March 5, 2026. The token’s weekly loss stands at 11.5%, but it is holding a crucial support level within a falling wedge formation.
Crypto analyst Jonathan Carter highlighted that buyers are actively defending this support zone. “Buyers are actively defending this support zone, indicating that bearish momentum may be weakening,” Carter stated. He noted a confirmed breakout could target several higher resistance levels.
Concurrently, the Shibarium network addressed user reports of wallet problems. Shibarium SHIB.io confirmed most issues stem from incorrect RPC settings rather than network faults.
The advisory recommended users clear wallet caches and re-add the network with correct settings. It reassured that network operations are stable and user assets remain secure despite minor explorer delays.
Shibarium also announced a privacy and security upgrade scheduled for the second quarter of 2026. This upgrade is expected to enhance the ecosystem’s technical capabilities for users.
