SHIB’s Big Comeback? Shiba Inu Prepares for Its First Major Breakout Since January!
SHIB Holds Strong Despite a 40% Correction—Is a Breakout Coming?
Shiba Inu (SHIB) has been through the wringer this year, facing a 40% year-to-date (YTD) correction. But guess what? The memecoin has found its footing around $0.000013, and there are clear signs of buying pressure building up.
According to IntoTheBlock’s IOMAP data, over 18 trillion tokens have been accumulated at this level, signaling strong support. And here’s where it gets exciting—if SHIB can break past the 0.786 Fibonacci level, we could be looking at a surge to $0.000019.
Let’s break it down.
SHIB’s Support Zone Holds Strong—Are the Bulls Ready to Charge?
SHIB is showing signs of life, posting a 1.14% daily gain. If momentum continues, this could be the first major rally since January, when SHIB hit $0.000024 twice.
Even after weeks of consolidation, buying pressure is stacking up behind the token. And according to on-chain data, SHIB is taking support over resistance—a clear bullish signal.
Here’s why that matters:
- The In/Out of Money Around Price (IOMAP) indicator shows major support between $0.000012 and $0.000013.
- Over 21,150 addresses hold 18 trillion tokens in profit at $0.000012.
- At $0.000013, 17,000 addresses collectively hold nearly 18 trillion tokens.
This level of accumulation is huge—it suggests that SHIB’s price has a strong foundation and is primed to move higher.
Breaking Out of the Downtrend—Bearish Days Are Fading
From a technical perspective, the SHIB price chart is painting a bullish picture.
SHIB’s correction from January highs has formed a falling wedge pattern—one of the strongest bullish reversal patterns in technical analysis. Here’s what it means:
- The pattern consists of two downward trendlines converging.
- The upper trendline represents lower highs, while the lower trendline shows lower lows.
- A breakout above the upper trendline signals bullish momentum.
And guess what? SHIB has already broken above the upper trendline, meaning buyers are regaining control.
Indicators Are Flashing Green: Is $0.000019 in Sight?
Let’s talk key technical indicators that could confirm an extended upswing:
- Money Flow Index (MFI) is rising, signaling that buying pressure is increasing.
- SHIB’s price is testing the 20-day Exponential Moving Average (EMA)—a bullish crossover could confirm the uptrend.
- Awesome Oscillator (AO) is still negative, but green histogram bars suggest a transition from bearish to bullish momentum.
If these signals hold, SHIB could break through $0.000016 and target $0.000019 in a highly bullish scenario.
What’s Next for SHIB? Key Levels to Watch
So, is this the moment SHIB holders have been waiting for? If momentum continues, here’s what could happen:
- Bullish scenario: SHIB smashes through $0.000016 and tests the 0.786 Fibonacci level, aiming for $0.000019.
- Bearish scenario: If buying pressure fades, SHIB fails to hold above $0.000013 and could drop back to $0.000011.
Bottom line? The data is pointing toward an upside move—but it’s all about whether buyers can push SHIB through these key resistance levels.
Are you ready for the next SHIB breakout?
