Shiba Inu could be eyeing a return to levels not seen since 2021 — around $0.000088 — after an analyst flagged that the token is back inside a historical “accumulation zone” that previously preceded massive rallies.
What the analyst says
- Crypto Patel published a chart showing SHIB trading inside what he calls “Support Zone (Accumulation Zone 1).” According to his analysis, buyers accumulated in this same zone twice before: in 2021 (which preceded a roughly 1,660% rally) and again in 2024 (a 746% climb).
- With SHIB trading near $0.000006, Patel points to a key floor at $0.000004. If that floor holds and buying pressure returns, he projects a potential rise to $0.00008789 — about a 1,364% gain from current levels. He also presented a more optimistic ceiling implying a roughly 2,200% move, but he acknowledged that the highest target may be unlikely even in a strong altcoin season.
Technical and on-chain context
- Chart structure: SHIB’s price has been squeezed under a descending resistance line, creating a tightening range. Such compression patterns can resolve with sharp moves, though direction is uncertain until a breakout occurs.
- On-chain signals: Exchange netflow recently turned negative, with a net outflow of about 41.67 billion SHIB — a behavior often associated with accumulation as holders move tokens off exchanges into private wallets.
- Supply caveat: Despite that outflow, over 81 trillion SHIB remain on exchanges, a very large on-exchange supply that could limit upside if holders decide to sell.
Counterpoints and risk levels
- Not all analysts are bullish. Some note SHIB remains in a pattern of lower highs and faces resistance between roughly $0.0000073 and $0.0000079. A breakdown below current support could target about $0.0000051.
- The picture is mixed: the accumulation-zone thesis has precedent, but a repeat depends on whether buyers return in force and whether large on-exchange supplies stay dormant.
Bottom line
SHIB’s current setup has historically preceded large moves, and the converging technicals and recent net outflows add fuel to the bullish case. Still, significant on-exchange supply and resistance overhead keep the outlook split — traders should watch the $0.000004 floor, the $0.0000073–$0.0000079 resistance band, and whether the descending resistance finally breaks for clearer direction.
(Chart referenced by Crypto Patel; featured image from Unsplash, chart from TradingView.)
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