Shiba Inu (SHIB) Eyes 30% Breakout Above Key Support

Andrew Chen
SHIBA INU (SHIB)

Getting your Trinity Audio player ready...
  • SHIB has built a strong accumulation base near $0.0000095.
  • A breakout above $0.0000105 could trigger a 20%–30% rally.
  • On-chain and community data point to growing bullish sentiment.

Shiba Inu (SHIB) is showing signs of renewed strength after forming a tight accumulation zone that may trigger a bullish breakout. The token has built a solid base around $0.0000095, according to recent technical analysis shared by Shib Spain on X, hinting at what they described as a “massive next leg up.”

The four-hour chart shows clear consolidation between $0.0000090 and $0.0000095 — a level where buyers have consistently stepped in. Each rebound from this range reflects strong conviction among traders who appear to be positioning early for an upward move.

Buyers Defend Key Levels as Breakout Looms

Data from Binance confirms SHIB’s consistent respect of its demand zone since mid-October. Multiple rejections below $0.0000090 show firm buyer interest, suggesting a well-defined support base.
If SHIB breaks above its resistance near $0.0000105, analysts expect a potential 20%–30% upside, targeting zones near $0.0000110 and $0.0000140. This pattern mirrors past bullish setups that often preceded strong rallies, provided volume confirms the move.

Sentiment Improves as Meme Coins Regain Momentum

Community enthusiasm around SHIB has climbed in recent days. Shib Spain’s post gained over 9,000 views in 24 hours, underscoring renewed interest in the token. Across social platforms, traders are speculating that SHIB’s potential breakout could align with the broader meme coin rebound seen in late October.

Also Read: Shiba Inu Bullish Breakout Ahead? Key Support Holds Strong Near $0.00001042

On-chain data supports the optimism. Active wallet addresses and liquidity inflows have both risen, signaling growing participation. If Bitcoin maintains its current momentum, SHIB could benefit from the broader “risk-on” market tone and extend gains into November.

Outlook: 20% Upside If Resistance Breaks

A confirmed breakout above $0.0000105 could open the door for a rally toward $0.0000140. However, holding the $0.0000090 support is critical for sustaining bullish momentum. For now, SHIB’s tightening consolidation suggests traders are quietly preparing for a move that could define its short-term trend.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Related Posts