Peter Smith
Shiba Inu (SHIB) climbed more than 2% today, pushing through the 0.00001200 mark and showing signs of renewed buying pressure. The breakout has caught traders' attention, with many now watching to see if the momentum can sustain itself. The move comes after weeks of consolidation, and the technical setup suggests there might be more room to run.
Fresh Breakout Supports Bullish View
The price action speaks for itself - a sharp green candle broke decisively through resistance, flipping what was once a ceiling into potential new support. According to trader SHIB Mortal, excitement around the token is building, with the view that SHIB is "ready to fly."
The timing lines up nicely with what's happening on the chart, where buyers clearly showed up in force at a critical moment.
Chart Analysis: Key Levels in Focus
- Support Zone: The 0.00001160 level has been holding well, acting as a reliable floor where buyers have repeatedly stepped in
- Breakout Point: The push above 0.00001200 is significant—it confirms the bulls are gaining ground and could turn this level into short-term support
- Next Target: If the momentum continues, the next area to watch is between 0.00001230 and 0.00001250, where liquidity clusters might provide some resistance
The strength of that upward candle shows confidence returning to the market, and it's creating the kind of environment where follow-through becomes more likely. Volume and momentum are both pointing in the right direction for now.
Why SHIB is Moving
Beyond the technical picture, Shiba Inu keeps pulling in attention thanks to broader rotation within meme coins and fresh buzz around the Shibarium network. Those developments have helped reignite interest from both retail and more active traders looking for momentum plays. It's not just charts - there's some narrative fuel behind this move as well.
What's Next for SHIB
Shiba Inu's breakout above 0.00001200 strengthens the case for more upside. While pullbacks are always possible in the short term, holding above this level could set the stage for a push toward 0.00001250 and potentially higher. For now, the bulls seem to be in control, and traders will be keeping a close eye on whether this momentum can carry through.
Peter Smith
