Shiba Inu price has had a rough time lately, just like the rest of the crypto market. The price dropped below an important support level and even added another zero, which hurt confidence even more.
Over the last month, SHIB is down about 24%, and it’s lost more than half of its value this year. Still, some traders think a rebound could finally be close.
SHIB Chart Analysis
TradingView analyst Saraah shared a chart showing SHIB price nearing the end of a descending triangle pattern. This trend structure has been pressing the price lower since mid-October, but triangles like this often end with a strong move – either up or down.
Analyst Says It’s Time for #ShibaInu to Rebound, Shares Three Targets.
At first, SHIB was sitting close to the neckline resistance, which would have strengthened the bullish case.
But as the market turned lower, the SHIB price slipped again. Still, it remains inside the major support area, which some traders see as a spot for potential reversal.
One good sign is that trading volume is going up. When more people start trading a coin again, bigger moves usually follow.
Potential Short-Term Price Targets for Shiba Inu
The analyst highlighted three possible price targets if SHIB manages to turn higher:
If SHIB does bounce, the first price it could reach is around $0.00001115, which is about a 15% move from where it is now. The next step higher would be around $0.00001172, which would be about a 21% gain. The final target is $0.00001220 – roughly a 26% jump if momentum builds.
These aren’t huge moonshot predictions, but they mark a clear roadmap for what a relief rally could look like if buyers regain control.
Bitcoin Stability's Impact on SHIB Price
For this rebound to happen, Bitcoin needs to stop sliding. BTC price dropped to $107,000 earlier today and dragged the crypto market with it. When Bitcoin is under pressure, most altcoins struggle – including SHIB.
But overall, the bigger picture for Shiba Inu still gives holders some hope. The SHIB community scored a major win recently as asset manager T. Rowe Price – which oversees $1.7 trillion – filed for a spot SHIB ETF in the U.S. That filing boosted confidence that institutional interest in meme coins is growing.
Shiba Inu has been quiet for months, and its underperformance has worn down even loyal supporters. But if this descending triangle finally breaks upward and Bitcoin steadies, the next SHIB price move could be a positive one.
Traders are watching closely. A small breakout may be enough to bring SHIB back into the spotlight again.