Shiba Inu Bullish Breakout Possible After Accumulation

Shiba Inu (SHIB) price appears to be staging a comeback after a bruising stretch of selling and consolidation.

Recent on-chain flows, technical signals, and ecosystem repairs point to a market that has potentially finished a long accumulation phase. 💡 This phase is often a precursor to significant price movements.

The current focus is on whether the prevailing setup will ignite a sustained rally or lead to another round of profit-taking. 📌

Buyers Rushed In After a Sharp Crash

Last week’s market downturn saw SHIB briefly dip to a 2025 low of $0.00000850, adding an extra zero to its price tag. 📉

Aggressive buying emerged following this dip, successfully pushing the token back above the $0.00001 threshold within days. ✅

This swift rebound erased the recently added zero and compelled short-term sellers to re-evaluate their positions.⚡

The buying pressure observed was substantial. Between September 22–26, over 600 billion SHIB left exchange trading platforms. Furthermore, nearly 1 trillion SHIB were withdrawn from exchanges during the October 11 crash. 📊

These significant movements suggest accumulation by longer-term holders rather than speculative traders, indicating a potential reduction in near-term sell pressure as assets are moved to colder storage. 💡

Concurrently, the market’s burn activity saw a dramatic spike. Over 5.7 million SHIB were burned in a single 24-hour period, with weekly burns exceeding 46.6 million. 🔥

While token burns alone don’t typically drive immediate price momentum, they can effectively tighten supply and amplify any existing bullish demand. 📌

Technical Setup Aligns with Bullish Targets

Technically, SHIB has been forming a descending wedge pattern on its chart, a pattern that often precedes a significant breakout once buyers regain control. 📈

Support has repeatedly held firm around the $0.0000090–$0.0000100 zone, acting as a crucial demand area that has cushioned previous downside moves. 📍

Momentum indicators are now showing early signs of shifting in favor of buyers. Notably, the Relative Strength Index (RSI) on the daily chart has recovered from oversold territory, and the Moving Average Convergence Divergence (MACD) is beginning to flatten, suggesting a potential trend change. ✅

Resistance, however, remains in close proximity. The 30-day Simple Moving Average (SMA) is currently positioned above the asset’s price, and a key resistance level is observed around $0.00001137. 📉

A clean breakout above these levels would serve to validate the descending wedge pattern and could open the door to targets significantly higher than current trading levels. ⚡

Market analysts foresee substantial upside potential if this breakout sustains. Some projections suggest an upward swing rally potentially exceeding $0.00004566, a level last seen in March 2024, possibly reaching towards $0.0000691. 📈

Other analysts propose more intermediate targets within the $0.000022–$0.000032 range as realistic initial objectives. These forecasts imply considerable percentage gains from current levels, though their realization is heavily dependent on trading volume and broader macroeconomic conditions. 📊

Key Shiba Inu Price Levels to Monitor

In the near term, the critical level to watch is support situated around $0.0000105. Holding above this price point would provide a clearer path for SHIB to challenge immediate resistance levels. 📍

Conversely, losing this support could reintroduce downside risk, potentially pushing the price back towards the $0.0000090 demand zone. 📉

On the upside, the next significant hurdles are clustered just above SHIB’s current trading price. 📌

A decisive move and sustained presence above $0.00001137 would strongly signal continued buying interest and could bring the $0.000022–$0.000032 range into play. 📈

A less robust push might encounter resistance at the 30-day SMA or previous swing highs, levels where many traders are likely to secure profits. 💡