After staging a volatile move between $0.00001550 and $0.00001650, the Shiba Inu price today is trading around $0.00001630, up nearly 2.8% on the week. Recent Shiba Inu price spikes have brought the memecoin back into a high-confluence zone on the daily chart. With bulls defending the $0.00001580–$0.00001600 demand band and lower wicks showing accumulation, the market may be gearing up for another breakout attempt above $0.00001660.
What’s Happening With Shiba Inu’s Price?
The daily structure shows a clear ascending triangle breakout from early May, with SHIB jumping above the $0.00001550 ceiling after multiple failed attempts throughout April. This breakout triggered a strong impulse that briefly tapped $0.00001730 before facing resistance. The current Shiba Inu price action is forming a bull pennant on the 30-minute chart, with tightening candles and volume compression signaling a potential breakout attempt in the next 24 hours.
From a broader view, SHIB is now trading above the 0.236 Fibonacci level ($0.00001533) and is targeting the next major retracement at 0.382 ($0.00001911), which aligns with February…
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