Shiba Inu (SHIB) shows positive dynamics following a recent breakout from a descending channel, capturing the attention of traders and analysts. Current market conditions influence the stability of holders and overall network activity.
Price Dynamics and Market Performance
At press time, Shiba Inu (SHIB) was trading at $0.000012, gaining 1% over the last 24 hours. The price has declined by 7% over the past week, with an average daily trading volume of $197 million. Recently, the price broke above a long-term descending channel that began in late 2024, leading to consolidation in the $0.000011–$0.000012 range, indicating steady accumulation at this level.
Technical Indicators Indicate Market Reset
The 50-day simple moving average has been reclaimed, which often supports a move higher after a breakout. The Relative Strength Index has cooled off from recent highs and is now in a neutral zone, suggesting that the market is preparing for another potential leg upward. Market tracker SHIB KNIGHT noted a breakout from a falling wedge, indicating a possible bullish reversal.
SHIB Holds Strong, Targets $0.000025
Data from IntoTheBlock shows Shiba Inu has maintained an average of 1.41 million addresses over the past month, with a peak of 1.41 million on August 4. This range indicates stable participation in networks, consistent with the current consolidation phase. SHIB celebrated its fifth anniversary on August 1, with notable achievements including an all-time high of $0.000089 and a market cap exceeding $40 billion. Traders remain focused on the price, anticipating movement towards $0.000025 after the recent breakout.
Shiba Inu continues to demonstrate resilience and community interest, supported by active engagement and technical signals for growth. The current consolidation and adherence to key support levels create potential opportunities for upward movement.
