- The price of Shiba Inu is trading near the resistance line of a descending wedge.
- If SHIB breaks out on robust volume, price targets include highs around $0.00001.
- Token holders are withdrawing assets from exchanges, signaling growing bullish confidence.
Shiba Inu (SHIB) is drawing renewed attention from traders as its price appears poised for a breakout, supported by a tightening wedge pattern on the daily chart.
The token was trading near $0.00000779, a slight gain on the day, as buyers increase pressure amid growing on-chain accumulation.
Data show Shiba Inu’s price structure has bullish technical characteristics, and analysts note a potential upswing is on the horizon.
Other memecoins such as Dogecoin, Pepe and Floki also look set for potential rallies.
Shiba Inu: current price and market dynamics
At the end of January 2026, Shiba Inu is holding around $0.0000078, trading in a tight range after a recent rebound from $0.0000075.
Recent declines and recoveries have formed a longer-term descending wedge pattern.
The pattern shows each successive low forming higher than the previous one while the upper trendline slopes downward.
This indicates weakening selling pressure and a consolidation phase that could set the stage for a significant breakout, particularly if volume begins to rise on upward moves.
Although SHIB remains well below its 2025 highs, buyers appear optimistic and are withdrawing tokens from exchanges.
In one instance, holders withdrew more than 29 million SHIB from crypto trading platforms over a 24-hour period. The data point to active accumulation, likely reducing immediate selling pressure.
Historically, large withdrawals from major exchanges have signaled smart money accumulation—a phase that often precedes sharp price moves.
This dynamic occurs when rising demand intersects with a downtrend, and analysts expect that scenario could play out as memecoins regain momentum.
Price outlook for Shiba Inu: why SHIB could break out
As noted, Shiba Inu’s technical outlook features a descending wedge on the daily timeframe.
The token continues to contract and is currently trading close to the wedge’s upper trendline, amid signs of renewed buying interest.
For bulls to confirm an upside breakout, price needs to decisively clear resistance in the $0.0000085–$0.0000098 zone.
Analysts warn this breakout should occur on strong volume, with a move above $0.00001 considered critical for short-term continuation.
Shiba Inu would also benefit from positive momentum across the broader altcoin market, especially if memecoins and utility tokens start to gain traction.
Bitcoin’s performance and investor appetite for higher-beta tokens like SHIB will be important determining factors.
Developments within the Shiba ecosystem—such as Shibarium upgrades and merchant adoption—could provide additional tailwinds for the token.