SHIB Consolidates Near $0.00001334 as Symmetrical Triangle Signals Breakout Pressure

SHIB continues to trade near $0.00001334, with technical indicators suggesting breakout potential as the token forms a symmetrical triangle pattern. This consolidation phase, marked by converging trendlines and consistent higher lows over multiple weeks, reflects growing pressure for a directional move. Buyers have shown resilience in supporting the structure, and volume trends underscore active participation in the market [1]. According to CW8900, the price is close to the upper boundary of the triangle, signaling the potential for a bullish breakout [1].

The token has seen a recent recovery above $0.00001300, with CoinMarketCap reporting SHIB at $0.00001284 earlier in the week. Although the 24-hour price decline was 1.02%, the overall trend remains supportive of a breakout attempt [1]. Shib Spain noted that the price is “getting ready for a breakout,” aligning with the technical structure and recent price behavior [1].

Network developments also support this potential. Burn activity has spiked dramatically, with 102 million SHIB tokens removed from circulation over seven days. A single-day burn event accounted for 3.7 million tokens, representing a 1,548% increase in burn rate. While this represents a small fraction of the total supply, it reinforces long-term scarcity and has a positive effect on token dynamics [1].

In addition, Shibarium announced a new security partnership with DegenSafe, enhancing the network’s security infrastructure and user confidence. Reports highlight that security upgrades and growing utility are essential for sustaining long-term momentum [1].

A key barrier remains the 200-day exponential moving average (EMA), which has held firm as a level of resistance. Analysts suggest that a successful breakout above this level could confirm a shift in medium-term momentum and open the door for further gains. The 50-day EMA is also approaching a crossover with the 100-day EMA, which could serve as an additional technical confirmation if the trend continues [1].

Overall, SHIB is at a critical juncture, with technical, on-chain, and network-level factors aligning to support a potential breakout. As the token consolidates near $0.00001334, the next move could determine the immediate direction of its price action in this bull market.

Source:

[1] [SHIB Trades Near $0.00001334 as Symmetrical Triangle Signals Breakout Pressure, but the 200 EMA Stands Firm](https://cryptofrontnews.com/shib-trades-near-0-00001334-as-symmetrical/)