3-Year Symmetrical Triangle Signals Shiba Inu Heading Toward $0.0001

By: bitcoin ethereum news|2025/05/08 00:15:01
0
Share
copy
TradingView analyst BITfinity highlights a potential breakout for Shiba Inu as it approaches the apex of a multi-year symmetrical triangle. Notably, Shiba Inu has traded within a narrow range between $0.000012 and $0.000013 over the past week. While there was brief intraday volatility, the broader trend has been downward. A notable dip on May 6 marked a short-term low, followed by a modest bounce on May 7. However, this movement failed to reverse the prevailing bearish sentiment. Amid this consolidation, an analyst is now focusing on a larger technical setup that spans 3 years, suggesting a potential shift in long-term momentum. Shiba Inu Potential Breakout as Triangle Apex Nears According to a weekly chart shared by BITfinity, an extended symmetrical triangle pattern that began forming after Shiba Inu’s all-time high of $0.0000884 in October 2021 is nearing its apex. This structure comprises a descending resistance trendline connecting a series of lower highs and a steady support level at approximately $0.00001. Since then, the price has compressed gradually within the triangle, indicating a prolonged period of decreasing volatility. Resistance has repeatedly pushed back bullish attempts, most notably in December 2024 when SHIB approached $0.000032 but fell back to the support just above $0.00001. Before that, in March 2024, the price briefly surged to around $0.000045, but momentum failed to sustain, pushing SHIB back to the same support. This support has consistently held, with the lower trendline acting as a firm base throughout the downward retracements. As the triangle’s apex nears, the chart now outlines a speculative breakout path, targeting initial resistance at the 50-day simple moving average (SMA 50), positioned near $0.000017. If surpassed, the path projects a series of higher highs and higher lows, with a mid-term target of $0.00005 and a longer-term target of $0.0001. A surge from the current $0.000012 to $0.0001 represents a 733.33% increase. Long-Term Holders Expand as Speculative Activity Declines Elsewhere, data from IntoTheBlock highlights an increase in long-term SHIB holders. The metric tracking addresses holding Shiba Inu for over one year has risen by 1.46%. In contrast, short-term traders (under one month) and medium-term holders (one to twelve months) have declined. Specifically, traders dropped by 6.88%, while cruisers fell by 4.45%. This transition suggests a redistribution phase, where speculative interest wanes while committed holders remain. These shifts in ownership behavior are contributing to lower sell-side pressure. With fewer active traders in the market, sudden swings from large-scale liquidations or short-term profit-taking diminish, which may provide a more stable base if bullish momentum emerges. Gradual Shift Toward Long Bias Complementing on-chain data, a CoinGlass chart analyzing the SHIB OI-Weighted Funding Rate from early April to early May shows signs of market resilience. Despite several dips in funding that typically reflect negative sentiment, SHIB’s price held above the key support level of $0.00001. Short sellers failed to push the price lower, even amid multiple bearish cycles in the derivatives market. Notably, the funding environment has now begun to favor long positions. This shift suggests improving sentiment, a typical precursor of bullish momentum. DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses. Source: https://thecryptobasic.com/2025/05/07/3-year-symmetrical-triangle-signals-shiba-inu-heading-toward-0-0001/?utm_source=rss&utm_medium=rss&utm_campaign=3-year-symmetrical-triangle-signals-shiba-inu-heading-toward-0-0001

-- Price

--

You may also like

ZachXBT: Humanity private key leak and abnormal surge in H token should be viewed separately

On June 9, according to related disclosures, on-chain investigator ZachXBT posted an update on Humanity’s roughly $31 million security incident, saying that after further analyzing fund flows, he currently tends to believe the project team was not involved in an “inside job” or a self-staged attack. According to him, the official explanation about the private key leak was broadly accurate, but before the token unlock, the price of H had been artificially pushed higher, and the hacker later took advantage of that market environment; therefore, the private key leak and the earlier abnormal price pumping should be regarded as two separate and independent events. This reframing has shifted the market’s understanding of the nature of the incident. Earlier discussion around Humanity had focused on whether the team directly participated in the attack or used the security incident to cover up internal operations. ZachXBT’s latest remarks shift the focus from “whether it was self-theft” to “whether there were pre-unlock market structure issues.” He also questioned whether the team may have.

Morning Report | OpenAI has submitted an S-1 registration statement draft to the U.S. SEC; Morpho completes $175 million financing

Overview of Important Market Events on June 9th

Morning Report | BitMine increased its holdings by 126,971 ETH last week; trader Eugene announced his exit from the crypto market

Overview of Important Market Events on June 8th

Wang Chuan: How can one not feel anxious after the neighbor Old Wang made thirty times profit by investing in storage stocks? (Seven) - A quarter-century cycle

In-depth analysis of the "reflexivity" bubble trap in storage stocks: Beware of the backlash from the bullwhip effect and the false narrative of high growth; do not let the short-term myth of wealth become a wealth abyss that cannot be recovered for 25 years.

Cryptocurrency CEXs are flocking to sell US stocks, and traditional brokerages are facing an "uninvited guest."

The major reshuffle has just begun.

$75 billion in foreign capital has fled, and South Korean retail investors have absorbed it all using leverage

Despite the accelerated migration of Korean funds from cryptocurrency to the stock market, the Korean market remains an important barometer for global cryptocurrency retail liquidity and recovery turning points.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com