Bulls on the Hunt: SHIB’s Sideways Move May Be Hiding Big Targets

TL;DR

Price Action and Market Performance

Shiba Inu (SHIB) was trading at $0.000012 at press time, gaining 1% in the past 24 hours. The meme coin has declined by 7% in the past week, and the average daily trading volume is $197 million.

Recently, the price broke over a long-term falling channel that started in late 2024. Following the breakout,SHIBis consolidating in the $0.000011–$0.000012 range, indicating steady accumulation around this level.

Crypto analyst Jonathan Carter noted that this price area is acting as a strong support range. The Volume Profile shows heavy activity around the same levels, suggesting buyers are gradually entering the market. Carter stated that if SHIB holds above this zone, the next upside targets are $0.000014, $0.000018, $0.000021, and $0.000025.

#SHIB

Shiba Inu has broken above the descending channel pattern on the daily chart

The price is consolidating near the breakout zone, showing signs of an accumulation phase‍

A sustained bounce could push the price toward targets at $0.00001400, $0.00001750, $0.00002050, and… pic.twitter.com/LVs3SLT2Pu

— Jonathan Carter (@JohncyCrypto) August 5, 2025

Technical Indicators Show Market Reset

Meanwhile, 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.

Another market tracker, SHIB KNIGHT, reported a breakout from a falling wedge, a common bullish reversal pattern. The price is trading above 0.000012, and with the current momentum, the next targets will be 0.000014 and 0.000016.SHIB Holds Strong, Eyes $0.000025

Data from IntoTheBlock shows Shiba Inu has maintained an average of 1.41 million addresses over the past month. The 30-day peak was 1.41 million on August 4 against a minimum of 1.4 million on July 6. This small range is indicative of stable participation in networks and is consistent with the present consolidation period.

Shiba Inucelebratedits fifth anniversary on August 1. Among the achievements noted by the team, there is an all-time high of 0.000089 at a market cap totaling over 40 billion.

The token is still actively traded on large exchanges, and traders keep an eye on the price to potentially go to $0.000025 after the recent breakout.