Peter Smith
While most of the crypto market sits in a holding pattern, Shiba Inu is quietly building momentum for what could be its next significant move. The popular meme coin is displaying technical strength that has caught traders' attention, with chart patterns suggesting a breakout could be imminent.
SHIB Price Consolidates Before Breakout
The crypto market has been unusually calm lately, with most altcoins stuck in low-volatility ranges. But SHIB is bucking this trend, sitting at $0.00001260 with a modest 0.8% daily gain that hints at underlying strength.
Crypto trader @army_shiba recently pointed out that SHIB is forming a textbook ascending triangle – a pattern that often leads to upward price movements. If this setup plays out as expected, we could see SHIB jump 6.2% to around $0.00001350.
The current consolidation is happening just below key resistance levels. Here's what traders are watching:
Resistance: $0.00001300 – $0.00001350 Support: $0.00001200 Breakout target: $0.00001350 (+6.2%)
A clean break above $0.00001300 could trigger a cascade effect, with short sellers getting squeezed and fresh buying interest flooding in.
Shiba Inu (SHIB) Price Outlook
Despite the quiet market conditions, SHIB maintains strong community backing and continues to see accumulation from larger holders. The coin has a history of explosive moves once it breaks out of these consolidation phases.
The key level to watch is that $0.00001300 resistance. If SHIB can push through convincingly, it could easily exceed the initial 6% target and potentially test even higher levels in the coming sessions.
Peter Smith
