SHIB Faces Decisive Support Zone With 17X Rally on the Horizon

• SHIB hovers at $0.000012 support as tight consolidation leaves traders watching for direction.
• Futures trading stays steady within range as cautious market sentiment holds back major moves.
• Analysts project a possible 17X surge toward $0.00023 if resistance levels are broken decisively.

The SHIB price is at a decisive moment, as its movement now relies heavily on the $0.000012–$0.000011 support zone. Data from TradingView shows the token has been locked in a symmetrical consolidation pattern since July, pointing toward an imminent breakout.

As price action moves into and approaches the triangle apex, the direction has continued to remain ambiguous. Yet, one thing is sure: this support band is the last shield that prevents SHIB from sliding farther down. This brings the pressing question into light: will this level be the genesis of a bullish rally, or will it give way to a sharp breakdown?

SHIB’s Price Action: Key Levels to Watch

On the technical end, the Relative Strength Index sits at 46.14, indicating a bearish to neutral momentum. Throughout August, the RSI hovered near the midpoint, emphasizing a period of little volatility and equally balanced market sentiment. With this as background, SHIB is likely to continue moving sideways within its triangle and support base in the near term.

However, should the token break upward, a bullish setup could form, targeting the 50% Fibonacci retracement at $0.00001302. Breaking this obstacle could lead to the 78.6% retracement at $0.00001471, with a July high of $0.00001598 serving as the ultimate upside test.

A sustained rally above these levels would be a sign of strength returning to the market. On the other hand, a breakdown of the support around $0.000012-$0.000011 could be the start of a more significant decline. Such a break would probably carry SHIB down to $0.00001005, a level last reached in late June, wiping out weeks of consolidation.

Muted On-Chain Metrics Reveal Cautious Stance

The derivatives market also silently conveys the current state of suspense surrounding SHIB. Over the last month, the average SHIB futures trading volume has been relatively stable, fluctuating between $350 million and $100 million.

This steadiness suggests participants are still engaged, but they are holding back from making outsized commitments. Rather than chasing volatility, traders appear to be waiting for a decisive price signal before shifting into higher gear.

Open interest adds another layer to this picture. After spiking to $328.36 million on July 22, SHIB’s open interest has cooled and now sits in the $200 million to $150 million range. This drop signals a retreat from speculative excess, with leveraged positions unwinding as uncertainty takes hold.

By settling into this narrower band, the market reflects a cautious tone—traders are present, but their positions are smaller, more measured, and less aggressive.

Related: Shiba Inu Traders Eye Autumn 2025 as Token Struggles Under Bearish Pressure

Consolidation Poised to Unleash SHIB Momentum

Amid this period of consolidation, some analysts see signs of an explosive move ahead. A recent chart shared by CryptoElites highlights SHIB’s symmetrical triangle as a springboard for a dramatic upside scenario.

Their projection points to a potential surge toward $0.00023, a level that would represent a staggering 17X gain from current prices. This bold outlook is built on the premise that SHIB’s ongoing compression is storing momentum for a decisive breakout.

Historically, extended consolidation time frames in crypto have worked as the calm before sudden, sharp-level moves, filled with liquidity and speculative fervor once a trigger is hit. The pattern shown suggests that if SHIB can hold its base near $0.000012 and break decisively upward, the rally could accelerate rapidly.

Conclusion

SHIB remains in a tightening consolidation phase as its price action coils near support. While traders watch warily, analysts note that the prolonged compression could pave the way for a powerful rally once momentum shifts.

If history is any guide, such phases have often led to a sharp move. Whether or not SHIB lives up to bullish expectations or falls through depends on how it resolves this dramatic standoff in the next few days.

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