- Shiba Inu (SHIB) current pattern indicates decreasing volatility and a potential move toward higher resistance.
- SHIB has recorded high futures and spot volumes and a $5.88 billion market cap showing active participation and interest.
- Technical analysis and recent breakout signals suggest SHIB may test $0.000032, a 200% potential upside from current level.
The buzz around theShiba Inu (SHIB) meme coin is growing.The coin is shaping up in a bullish wedge pattern hinting it could break out and possibly reach $0.000032 soon.
Technical Patterns and Accumulation Phase
Shiba Inus (SHIB) meme coin exploded in 2021,driven by retail hype and viral social media attention.Then it went through cycles of massive gains followed by sharp drops.
After hitting its peak, SHIB retraced and entered a long accumulation phase, as long-term holders slowly built their positions.SHIB is currently forming a tight wedge around $0.00000994–$0.00000995.
Traders often view this kind of compression as a setup for a potential breakout.This low-volatility pattern shows the coin could be gathering momentum for a bigger move.
Popular analyst JAVONMARKS suggests that SHIB may be breaking out of this accumulation phase. According to Javon the token could climb to $0.000032 if bullish momentum continues, which is a possible 200% upside.
Market Performance and Trading Data
Coinglass data shows that the coin climbed +0.85% intraday, showing some short-term bullish momentum but it has had a bumpy ride in recent months. It fell -17.7% in 30 days, -27.1% in 90 days, and -53.2% year-to-date.
The token has a circulating supply of 589.24 trillion SHIB and a market cap of $5.88 billion. However its one-year decline of -48.03% reflects how volatile and speculative SHIB continues to be.
$133 million in futures and $25.7 million in spot volume over 24 hours shows that traders are still actively involved.
The long/short ratio on OKX is 1.93, suggesting traders hold slightly bullish positions. This ratio indicates optimism for a potential recovery if technical patterns align with market sentiment.
Outlook Amid Regulatory Developments
SHIB’s current price consolidation occurs amid evolving regulatory discussions. Proposed tax measures could affect exchanges handling high-volume digital assets. Regulatory adjustments may influence liquidity, trading operations, and token accessibility.
Traders are monitoring both technical signals and market conditions to assess potential moves. The ongoing accumulation suggests SHIB may be positioning for another upward cycle if momentum sustains.
JAVONMARKS emphasized in a recent post that accumulation is forming a bullish pattern. Traders anticipate that a confirmed breakout could trigger testing of higher resistance zones. The combination of technical compression and improving sentiment keeps SHIB under close observation.
