- Shiba Inu (SHIB) price stuck in tight range near $0.00001, marked by declining volume.
- Analysts see this Shiba Inu price consolidation breakout pattern as typical accumulation before rallies.
- Breaking the key descending trendline resistance near $0.00001740 is crucial for upside confirmation.
Shiba Inu (SHIB) price remains locked in a prolonged consolidation phase near $0.000009970, testing the patience of its vast holder base. Characterized by declining trading volume and tight rangebound action, this period mirrors historical patterns for the token, leading analysts like MMB Trader to suggest it might be an accumulation phase building for a Shiba Inu price consolidation breakout.
According to his analysis , Shiba Inu’s prolonged negative trading has tested holders’ patience, yet such phases historically mark accumulation before impulsive price moves.
SHIB Price Tests Holder Patience Near $0.00001 in Low-Volume Range
Shiba Inu’s price stood at $0.000009970 at press time, marking a 0.34% daily increase, according to CoinMarketCap. Despite the rise, trading volume declined by 12.38% to $182.81 million, signaling reduced activity following recent volatility. The token’s market capitalization was reported at $5.87 billion, matching its fully diluted value due to near-full circulation.
Related: Shiba Inu Price Prediction: Can SHIB’s 25% Burn Spike Ignite the Next Bullish Wave?
Source: CoinMarketCap
The volume-to-market capitalization ratio of 3.1% indicates low liquidity. Meanwhile, Shiba Inu’s 589.5 trillion token supply continues to restrain stronger price swings, although retail interest remains active, with over 2.87 million holders participating.
$0.00001740 Resistance: The Trigger for SHIB’s Next Breakout Rally
The critical technical barrier for SHIB bulls is a major descending trendline originating from the March 2024 peak (near $0.00004567). This trendline has consistently capped rallies since then.
MMB Trader identified a resistance level near $0.00001740, where a confirmed breakout could lead to an extended bullish reversal. His projection identifies three possible upside targets: $0.00003364, representing a 235% increase, $0.00005548, marking a 453% rise, and $0.00007730, implying a 670% rise from current levels.
Additionally, chart movements indicate renewed buyer activity following a dip below $0.00000960, which had previously impacted momentum before its recovery above the $0.00001000 mark. Historical trends suggest that Shiba Inu’s price often remains dormant before sudden market moves, with traders now monitoring volume recovery and whale accumulation for signs of confirmation.
Related: Shiba Inu (SHIB) Price Prediction: Analysts Track Breakout From Key Triangle
