Key Insights:
- Shiba Inu’s price remains within a symmetrical triangle pattern, with support at $0.00001190 and resistance near $0.00001350.
- Despite short-term caution, Shiba Inu’s holder base has reached a new all-time high, signaling long-term confidence.
- A breakout above $0.00001350 could trigger a shift toward bullish momentum, targeting levels near $0.00001420.
Shiba Inu (CRYPTO: SHIB) has recently been trading around $0.00001206, showing a slight decrease of 2.1% over the past 24 hours. The token has faced repeated rejections near its descending trendline, continuing its pattern of compression within a long-term symmetrical triangle. This price stagnation reflects waning volatility as the market awaits a breakout decision.
On the daily chart, Shiba Inu is consolidating between the $0.00001190 and $0.00001350 range, forming a classic symmetrical triangle pattern. This consolidation has defined most of SHIB’s movement throughout 2025. The 20-day Exponential Moving Average (EMA) sits near $0.00001240, providing short-term structural support, while the 50-day EMA at $0.00001258 and the 100-day EMA at $0.00001279 form resistance levels. The compression of these EMAs signals a market in equilibrium, with neither bulls nor bears having a clear advantage.
Potential Price Movements and Support Levels
If SHIB closes below $0.00001190, it could retest the support levels at $0.00001080 and potentially drop to $0.00000950. However, if the price manages to break above $0.00001350, it would signal a shift toward a bullish structure. In such a case, the token could target the $0.00001420 level and, eventually, the June swing high around $0.00001550.
On-chain data from Coinglass indicates a $1.3 million net outflow for Shiba Inu on October 9, suggesting mild distribution after a week of steady inflows. This shift suggests that traders are booking profits near resistance while waiting for a clearer technical direction. However, the absence of significant outflows points to market stability, with no major panic selling.
Increasing Holder Base Indicates Long-Term Confidence
Despite the cautious short-term price action, the number of Shiba Inu holders continues to grow. According to data from Etherscan, the holder base has reached a new all-time high of 1,544,810 addresses, marking a steady increase of 0.022% this week. This growing participation signals increasing network conviction, even as the token remains range-bound.
Shiba Inu’s immediate price action depends on whether bulls can maintain support above $0.00001200 and break the $0.00001350 resistance. Although on-chain flows have cooled, the increasing number of holders signals continued long-term interest in the token. A breakout above $0.00001350 could pave the way for a rally, while failure to hold support may bring the price back toward lower levels.
