Saad Ullah
Shiba Inu is finally stirring after months of sideways action, and the charts are starting to look pretty interesting. Trading around $0.00001295, SHIB has found solid footing at what many consider a make-or-break support level.
The Technical Picture
Crypto analyst Chad Pumpiano is among those highlighting the weekly setup, suggesting this could be the start of something bigger.
The current setup paints a clear bullish framework with three key profit targets that traders are watching:
- TP1: $0.00001377 - First resistance hurdle
- TP2: $0.00001485 - Mid-term target showing 15% upside
- TP3: $0.00001621 - Ultimate goal representing 25% gains
These aren't just random numbers - they mark historical resistance zones where selling pressure previously emerged. Breaking through them decisively could flip the script and open doors to even bigger moves.
What's Driving the Bullish Case
Market sentiment is shifting in SHIB's favor for several reasons. Bitcoin's recent stability is giving altcoins room to breathe and attract fresh money. The ongoing development of Shibarium, Shiba Inu's Layer-2 solution, continues building long-term credibility beyond the meme coin narrative. Perhaps most importantly, retail traders are waking back up to SHIB, with social media buzz and trading volumes both picking up steam.
The $0.00001295 support zone is everything right now. Hold above it, and bulls stay in control with a clear path to those higher targets. Lose it, and we're probably looking at a drop back toward $0.00001200, which would put the bullish thesis on ice.
On the upside, each resistance level at $0.00001377, $0.00001485, and $0.00001621 represents a potential profit-taking zone, but also a chance for momentum to accelerate if buyers stay aggressive.
Saad Ullah
