Shiba Inu (SHIB) shows signs of a potential price breakout as meme coins regain bullish momentum. Recently, the token lost its ranking to Litecoin in the broader crypto market, but current indicators suggest a possible trend reversal. With a market capitalization of $9.46 billion, SHIB is trading at $0.00001602, reflecting a 0.23% increase over the past 24 hours. As the price strengthens, investors closely watch whether the recovery will drive the token toward the $0.000020 mark. Key technical patterns and whale activity may offer insight into what lies ahead for the second-largest meme coin. Shiba Inu Breaks Resistance as Momentum Builds Technical analysis of the SHIB/USD 4-hour chart indicates a breakout above a long-term descending resistance trendline. This upward movement places Shiba Inu near the 23.60% Fibonacci retracement level at $0.00001619. A notable development is the formation of an inverted head and shoulders pattern, a bullish structure that often signals an upcoming reversal. The neckline of this pattern sits around $0.00001680, just above the 23.60% Fibonacci level. If the price surpasses this resistance, it could confirm a stronger uptrend. Momentum indicators also support the potential for further gains. The Directional Movement Index (DMI) shows a positive crossover, while the Average Directional Index (ADX) has started to rise, indicating increasing strength in the current trend. Additionally, the Bollinger Bands suggest growing pressure for a possible breakout. The price remains above the 20-day Simple Moving Average (SMA), with the lower Bollinger Band trending upward, suggesting compression that often leads to price expansion. However, the upper Bollinger Band remains flat, indicating a decisive move has yet to occur. Whale Holdings Show Mixed Trends The token’s on-chain data reveals shifting trends in whale activity since the beginning of 2025. Addresses holding between 100 billion and 1 trillion SHIB have reduced their holdings by 1.92%, while those in the 1 trillion to 10 trillion SHIB category decreased by 0.90%. Similarly, wallets containing 10 billion to 100 billion SHIB saw a 0.42% drop in their holdings. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Conversely, large investors with 10 trillion to 100 trillion SHIB increased their holdings by 3.79%, suggesting continued accumulation among the biggest players in the market. While some whales appear to be reducing their exposure, others hold firm, potentially anticipating further price appreciation. Given the recent breakout and technical indicators, the token could experience a continuation of its upward trend. If the price successfully clears the neckline resistance at $0.00001680, the next significant target would be the 61.80% Fibonacci retracement level at $0.000020, representing a 25% potential upside from current levels. However, downside risks remain. Key support areas to watch include the lower Bollinger Band at $0.00001524 and the next major support level at $0.00001368. A decline below these levels could invalidate the bullish scenario and lead to a retest of lower price zones. With whale activity providing mixed signals and technical patterns aligning for a possible rally, analysts remain optimistic about SHIB’s potential to sustain its recovery. Many believe that if the token maintains its current momentum and successfully breaks key resistance levels, it could achieve further gains. The price action in the coming days will be crucial in determining whether the asset can capitalize on its bullish setup and push toward the $0.000020 milestone. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Shiba Inu (SHIB) Shows Signs of Coming Breakout. Here’s the Price Target appeared first on Times Tabloid .
