Shiba Inu (SHIB) is capturing the attention of traders as its price approaches a crucial resistance level, backed by a tightening wedge pattern in daily charts. Currently trading around $0.00000779, SHIB shows signs of bullish sentiment as buyers ramp up pressure amidst increased on-chain accumulation.
Current Price Dynamics of Shiba Inu
As January 2026 draws to a close, Shiba Inu is positioned around the $0.0000078 mark, operating within a narrow range after a recent bounce from approximately $0.0000075. The cryptocurrency is exhibiting a long-term descending wedge pattern, indicating a decrease in selling pressure.
This pattern shows that each successive low is higher than its predecessor, hinting at potential bullish momentum. If trading volumes continue to rise, the cryptocurrency could break out of its consolidation phase.
Despite being significantly below its 2025 highs, optimism among buyers is tangible, as they actively withdraw tokens from exchanges. Reports indicate that holders have pulled out over 29 million SHIB from various platforms in the last 24 hours, signaling a potential decrease in selling pressure.
Historically, substantial withdrawals from major exchanges have preceded significant price increases, suggesting a pattern of smart accumulation occurs during market downturns. Analysts anticipate that the broader memecoin market may soon reveal upward movement.
Price Predictions for Shiba Inu: Signs of an Imminent Breakout
The technical outlook for Shiba Inu indicates a descending wedge pattern forming on daily charts. Although the token has retraced, it remains close to the upper trendline, reflecting renewed buyer interest.
To confirm a bullish breakout, the price needs to decisively surpass resistance in the $0.0000085 to $0.0000098 range, with analysts estimating that a rise above the critical $0.00001 level is pivotal for maintaining short-term momentum.
Shiba Inu stands to benefit from favorable trends across the altcoin market, particularly if both meme and utility tokens begin to gain traction. The influence of Bitcoin’s performance and investor appetite for high-beta tokens like SHIB will also play a significant role.
Furthermore, developments within the Shiba ecosystem, including Shibarium and merchant adoption initiatives, could provide additional tailwinds for the token.
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