Shiba Inu (SHIB) is currently priced at $0.00001168, with 24-hour trading activity totaling $221.19 million across crypto exchanges. Its present market capitalization stands at $6.88 billion, placing SHIB among the top tokens by total value.
In the last 24 hours, SHIB achieved an upward gain of 8.12%, pointing towards new short-term hopes among cryptocurrency investors. However, on a larger 7-day review, there is a slight decline of 1.88%, indicating initial-week selling pressure prevailing among marketplace participants.
The intraday chart reveals a declining-channel formation, as the price has repeatedly been turned back around upper resistance. This is the typical formation of two parallel, negatively inclined trendlines engulfing price action within clear borders on the chart. Its lower boundary has been a key area where previous declines reversed, and hence, a key spot for near-term action.
SHIB’s price recently fell from the upper resistance line and is now testing the midline support area on the same daily chart. If this current zone provides a stable bounce, the token could progress toward major price milestones tracked by analysts.
SHIB price targets indicate growing market confidence
Potential target levels include $0.00001250 as the first resistance, followed by $0.00001500 and $0.00001730 in case of consistent buying strength. If volume sustains and investor interest grows, SHIB may also reach higher thresholds of $0.00002050 and $0.00002420 within an approving market cycle.
The chart examined by market commentator Jonathan Carter includes these goals with systematic trend signals and annotations. Supporting graphics, such as volume bars signal expanding trade on primary price reactions, as consistent with past interest behavior within SHIB’s chart action.
The chart setup, with the divergent data and visuals on the candlestick patterns, presents a potential change in trend. SHIB traders continue to watch closely for verification of direction before entering into higher trade quantities.
