Shiba Inu Breaks Out With 2.76% Weekly Gain And Two Key Profit Targets Identified

Shiba Inu (SHIB) has demonstrated a technical breakout from a long-standing descending channel, drawing attention from analysts who have identified key price levels that could signal further upside potential. The asset’s recent move above the critical support zone between $0.00001050 and $0.00000978 has been interpreted as a sign of accumulation and buyer re-entry into the market. This development is supported by a rebound in the Relative Strength Index (RSI) from oversold territory, with the indicator now hovering around 46 [1].

Jonathan Carter highlighted the breakout on the daily chart, noting that SHIB has been consolidating near the breakout zone with signs of accumulation [1]. Current trading action places SHIB near $0.00001205, with a 2.76% weekly gain and moderate volume. The 50-day moving average is now below the current price, further reinforcing the potential for a bullish reversal.

Analysts have set two primary take-profit targets at $0.000022 and $0.000039 [1]. These levels align with historical resistance zones and serve as key price benchmarks for continued momentum. Wyckoff Insider, via TheCryptoBasic, confirmed a bullish formation on the weekly chart, indicating strong buying interest and the possibility of a reversal toward the $0.000022107 target [2]. A second target at $0.000039005 represents a prior peak from March 2025 and could act as a psychological level for traders looking to capitalize on the trend.

The price is currently consolidating between $0.00000980 and $0.00001400, with visible range volume profile (VRVP) showing liquidity building between $0.00001250 and $0.00001500. For the bullish case to remain valid, SHIB must close above $0.00002210 on a weekly basis with increased volume [2]. Until that happens, the price is likely to remain range-bound, with traders watching for a sustained break above key resistance levels.

According to the analyst’s forecast, reaching these levels could attract renewed interest from both retail and institutional investors who have been sidelined during the extended consolidation period [1]. However, these targets are not guarantees but rather projections based on technical analysis. As a low-liquidity asset, SHIB remains subject to rapid price swings, and traders are advised to exercise caution and manage risk accordingly.

[1] Thecryptobasic.com, August 5, 2025: [1]title1.............................(https://thecryptobasic.com/2025/08/05/analyst-identifies-two-targets-to-take-profit-as-shiba-inu-signals-bullish-breakout-after-closing-inside-volume-zone/)

[2] Cointodaynews.com, July 18, 2025: [2]title2.............................(https://cointodaynews.com/shib-breakout-resistance-0-000013-target-2025-08-05/)