Usman Salis
Shiba Inu (SHIB) is catching the eye of crypto traders as the meme token squeezes into a tighter and tighter range. This kind of consolidation usually means something's about to happen—and the technical picture suggests it could be bullish. With retail interest in meme coins picking back up and some promising chart patterns forming, SHIB might be gearing up for its next move.
Technical Setup
The recent chart is showing a double-bottom formation, which is typically a bullish reversal pattern that tends to show up before prices head higher. Right now, SHIB is bouncing around the $0.00001250 mark, with solid buying support sitting just below at $0.00001200. That level has held up pretty well, suggesting there's real demand underneath.
On the flip side, there's resistance hanging around $0.00001320. If SHIB manages to punch through that ceiling with conviction, we could see a run toward $0.00001450 or even $0.00001500. The chart shared by Shib Spain also points out a consolidation box pattern, which often signals that traders are quietly accumulating before making their next move. Combine that with the renewed buzz around meme coins, and you've got the ingredients for a potential breakout.
Key Levels to Watch: Support is firmly planted at $0.00001200, while resistance sits at $0.00001320. A confirmed breakout above resistance could be the trigger that sends SHIB toward the $0.00001500 zone.
What This Means Going Forward
Let's be honest—Shiba Inu is still a highly speculative play. But the technicals right now are hinting that the bulls might be warming up for something bigger. If the momentum keeps building and the broader crypto market stays in a good mood, SHIB could be setting the stage for the kind of pump that gets traders excited. Whether it actually happens depends on a lot of factors, but the setup is definitely worth keeping an eye on.
Usman Salis
