SHIB has rallied more than 26% in the past 7 days, outperforming most other altcoins as meme coins have regained momentum at the start of the year. The token just broke out of descending price channel, favoring a bullish Shiba Inu price prediction.
Trading volumes stand at $312 million, accounting for roughly 6% of SHIB’s circulating market capitalization. However, this represents a 16% drop in the past 24 hours, which suggests that the market is ready to take a small breather after this strong uptick.
The recent rally did not happen in isolation, as meme coins as a whole have been in high demand lately. Tokens like Pepe (PEPE) and Bonk (BONK) posting gains exceeding 50% during the same seven-day period.
This seems to indicate ongoing sectorial rotation of speculative capital back into high-beta assets as risk appetite improves. This dynamic typically benefits SHIB as the second-in-command in the meme coin segment.
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On-chain data further favors a bullish outlook, as investors have withdrawn approximately 35.6 million SHIB tokens from Binance over the past five months.
Large net outflows from CEXs usually reduce the token’s available liquidity and result in higher upward price pressure.
While this does not guarantee that the price will continue to move higher, it helps explain why SHIB has been able to bounce off the critical $0.0000080 support.
Shiba Inu Price Prediction: Descending Price Channel Breakout Sets Stage for Move to $0.000014
From a technical standpoint, SHIB just completed a notable shift in price structure. The token recently broke above a descending price channel that had been guiding the downtrend since late summer, confirming a potential trend reversal rather than a simple relief bounce.
The breakout was accompanied by a strong bullish candle and a clear expansion in volume – two factors that confirm its technical relevance.
The $0.0000078–$0.0000080 zone now stands out as the key support area to watch. This region has acted as a demand zone multiple times during the consolidation phase and aligns with the lower boundary of the former channel.
As long as SHIB remains above this zone, the bullish breakout scenario will remain intact.
The next key resistance to watch is located near the 200-day exponential moving average (EMA), currently standing at around $0.000010. This is also a psychological threshold for the token.
A successful move above this level would raise the odds for a sustained uptrend toward $0.000014, meaning a 57% upside potential for this meme coin.
Moreover, momentum indicators are confirming a shift in the dominant trend. The Relative Strength Index (RSI) has surged above 60, reflecting that bullish momentum is accelerating.
This type of RSI behavior is often seen during the early stages of trend reversals. However, is SHIB fails to stay above $0.0000080, this would invalidate the bullish setup and expose the token to a much deeper correction.
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