Peter Smith
⬤ In a recent post, pointed out that Shiba Inu has been quietly building strength as it trades around $0.00000994 on the SHIB/USDT chart. His comments come at a time when regulators are exploring new tax proposals for digital assets, which could impact meme-coin exchanges and liquidity providers. Early versions of these proposals suggest platforms handling high-volume tokens might face higher compliance costs—potentially forcing smaller trading venues to shut down or pushing crypto talent overseas. In this evolving regulatory landscape, SHIB's technical momentum is drawing extra attention.
⬤ The chart shows SHIB consolidating tightly near $0.00000994–$0.00000995, forming a clear wedge pattern that signals decreasing volatility. A large green arrow on the chart points upward, reflecting trader expectations of an imminent breakout. For those following SHIB coin news, this type of compression typically suggests accumulation before a bigger directional move—especially if momentum confirms.
⬤ Summed up the outlook pretty clearly: "I pretty much love $SHIB price action. It is slowly accumulating & forming a bullish pattern." He added that "once it breaks out of this low range, it will go much higher." The tightening price action and improving sentiment have traders expecting SHIB could soon test higher levels if the breakout materializes.
⬤ As interest in SHIB grows, market participants are balancing chart signals with regulatory uncertainty. A confirmed breakout could shift sentiment decisively upward—even as the industry stays cautious about policy changes. With technical pressure mounting and accumulation ongoing, traders are watching closely to see if SHIB's next move matches the bullish call.
Peter Smith
