Dogecoin News Today: Shiba Inu (SHIB) Eyes 430% Surge as Inverse Head and Shoulders Pattern Near Breakout

Shiba Inu (SHIB) is currently forming a key technical structure that could signal a major reversal in its price trajectory. The token has been consolidating within a multi-year inverse head and shoulders pattern, a well-known bullish formation in technical analysis. The structure was first initiated in mid-2022, with the head forming at lower levels in late 2022, followed by a rebound in 2023 and a second shoulder in early 2024 [1]. This pattern suggests that SHIB is preparing for a potential breakout that could extend its price into uncharted territory.

The neckline of this structure, currently around $0.00001300, represents a critical resistance level. If SHIB manages to break above this, it could trigger a 430%–540% increase in price, pushing the token toward $0.000065 and even $0.000081 [1]. This would mark a significant move following years of sideways consolidation and could potentially lead to new all-time highs. The structure has remained intact through 2025, with buyers consistently defending the support zone near $0.00001200 [1].

However, the near-term price action shows SHIB trading within a tight range between $0.00001200 and $0.00001300. The 4-hour chart from Binance indicates that SHIB is currently at $0.00001238, having fallen 0.32% intraday. The candles show repeated tests of key support and resistance levels, indicating indecision among traders [1]. Momentum indicators such as MACD and RSI reflect a similar pattern, with both moving closer to neutral levels but still indicating a lack of strong directional bias. The RSI stands at 42.96, suggesting that the market is in a consolidation phase and not yet showing signs of a breakout [1].

Volume data supports the idea of a holding pattern. While volume remains steady, there have been short-term spikes that reflect increased selling pressure during dips. However, the repeated defense of the $0.00001200 support shows that buyers are actively defending key areas within the bullish structure [1].

The potential for a breakout is further supported by other technical analyses that point to bullish formations such as cup-and-handle and double-bottom patterns. Some reports suggest that a short-term 36% rally is possible if buyers push SHIB above key resistance levels [2]. Another analysis elevates the potential even further, forecasting a 156% rally if SHIB can overcome its current resistance [2]. However, it's important to note that these are projections based on analyst interpretations and may not reflect actual market outcomes.

Fundamentally, SHIB has seen a significant increase in token burn activity, with over 631 million tokens burned weekly—a 367% increase in recent months [4]. This aggressive supply reduction is a positive sign for the asset’s fundamentals but remains to be seen whether it will translate into a price breakout. SHIB’s performance is still closely tied to the broader crypto market, particularly Bitcoin and Ethereum, which means its future trajectory will depend not only on internal factors but also on macro-level market conditions.

Other meme coins like Dogecoin (DOGE) are also in a consolidation phase, showing similar technical patterns. DOGE has seen a rise in the number of holders, but no sustained price breakout has occurred. The MVRV ratio stands at 1.5, suggesting the asset may still be undervalued [5]. However, its strong correlation with Ethereum means that any significant movement in the latter could influence DOGE’s performance.

Despite the focus on SHIB and DOGE, some investors are shifting attention to utility-driven tokens such as Remittix (RTX). Priced at $0.0969, RTX is gaining traction as a real-world application for cross-border payments and crypto-to-fiat transactions [6]. With over $20.6 million in funding and 612 million tokens sold, it offers an alternative to speculative assets and is attracting investors seeking both utility and growth potential.

SHIB’s next move will depend on whether buyers can generate enough momentum to push the price above the neckline. Until then, the token is expected to remain in a tightening range, consolidating its position before a potential breakout. Analysts remain cautious, emphasizing that while the technical indicators are optimistic, the success of the bullish scenario hinges on the behavior of larger market participants and the overall crypto market sentiment [1].

Source:

[1] SHIB Price Holds Key Bullish Pattern—Will Bulls Deliver the Breakout? (https://cryptofrontnews.com/shib-price-holds-key-bullish-pattern-will-bulls-deliver-the-breakout/)

[2] SHIB Price Ready to Explode? Traders Eye Massive 156% ... (https://thetradable.com/crypto/shib-price-ready-to-explode-traders-eye-massive-156-rally-after-key-breakout-signal-ig--a)

[4] Shiba Inu Price Prediction: SHIB Burn Rate Soars But ... (https://coincentral.com/shiba-inu-price-prediction-shib-burn-rate-soars-but-holders-switch-to-lbrett-to-see-soaring-prices-instead/)

[5] Dogecoin, Shiba Inu decline 22%, but analysts ... (https://www.ainvest.com/news/dogecoin-shiba-inu-decline-22-analysts-accumulation-signs-potential-rebounds-2508/)

[6] Shiba Inu And Dogecoin Show Signs Of Weakness As ... (https://www.barchart.com/story/news/34306027/shiba-inu-and-dogecoin-show-signs-of-weakness-as-payfi-altcoin-remittix-becomes-the-top-trending-token)