Shiba Inu might be setting up for a repeat. Back in early August, $SHIB broke out of a similar descending channel and ripped 35% in a single move. Price has since rolled into almost the same
Shiba Inu might be setting up for a repeat. Back in early August, $SHIB broke out of a similar descending channel and ripped 35% in a single move.
Price has since rolled into almost the same setup, coiling in a fresh channel with support holding just below.
This Shiba Inu price prediction walks through that pattern and what a repeat breakout could mean for SHIB's next move.
Metric
Value
Price
$0.000005048
24h Change
+5%
In today's Shiba Inu news, a report cited Etherscan data showing $SHIB has added nearly 6,000 holders in the past two weeks despite weak market performance.
The token now has around 1.691 million holders and, at the current pace, is on track to reach 1.7 million within the next few weeks. The report described $SHIB's holder growth as not fast but consistent.
Source: Data From X
Back in early August, $SHIB broke out of a descending channel and rallied +35% in one move, from around $0.000004394 to $0.000006263.
After that spike, the price rolled into a new descending channel, and it's been stuck in that channel since late August. Right now $SHIB is trading at $0.000005048, sitting on support near $0.000004930.
This channel looks a lot like the same before the last breakout.
If $SHIB breaks above this channel's upper trendline the same way it did last time, a similar +35% move can be expected from the breakout point, which would put SHIB near $0.000007021 (1,829 pips).
That's not guaranteed: it only plays out if the price actually closes above the channel's upper trendline with strong volume.
Right now $SHIB is still inside the channel, so the breakout hasn't happened yet, it's a level to watch, not something confirmed.
Level Type
Price
Projected Target (if breakout repeats)
$0.000007021
Resistance 1 (recent high)
$0.000006263
Immediate Price Reference
$0.000005048
Support Zone
$0.000004930
Deeper Support
$0.000004394
$0.000007021 is the level the chart projects if SHIB's current channel breaks the same way the early August one did, applying a similar 35% move from a comparable breakout point.
It's a historical analogy, not a promise.
SHIB would first need to close above the channel's upper trendline with real volume behind it before that projection becomes anything more than a pattern on a chart.
According to CoinGabbar analysts, Until the price actually closes above the upper trendline on volume, SHIB is just as likely to keep ranging inside the channel or retest the $0.000004394 support below.
This piece is for informational purposes only and isn't financial advice. The levels and scenarios above are based on technical chart analysis and publicly available data at the time of writing, and crypto markets can move sharply within hours, so past patterns don't guarantee future outcomes. It's worth doing independent research and considering your own risk tolerance before acting on any of the levels discussed here.
