- Shiba Inu price is trading near the resistance line of a descending wedge.
- If SHIB breaks out on solid volume, the price target includes a high of $0.00001.
- Token holders are withdrawing their assets from exchanges in a show of bullish confidence.
Shiba Inu (SHIB) is receiving renewed attention from traders as its price looks poised for a breakout, supported by a tightening wedge pattern on the daily chart.
The token traded at around $0.00000779, slightly up on the day as buyers increased pressure amid rising on-chain accumulation.
According to the data, the price of Shiba Inu has a technically bullish structure, with analysts pointing out that it is likely to rise soon.
Dogecoin, Pepe, and Floki are also poised to rise.
Shiba Inu: Current Prices and Market Trends
As of late January 2026, the Shiba Inu has been hovering around the 0.0000078 level, trading in a narrow range after recently rebounding from around 0.0000075.
A look at recent declines and gains shows that cryptocurrencies are following a long-term downward wedge pattern.
In this pattern, consecutive lows appear higher than the last, and the upper trendline slopes downward.
This indicates a decline in selling pressure and suggests that the consolidation phase could pave the way for a major breakout, especially if volume starts to turn upwards.
Although SHIB’s price is still well below its 2025 high, buyers are optimistic and are actively pulling tokens from exchanges.
In one example, token holders withdrew more than 29 million SHIB from a cryptocurrency exchange in the past 24 hours. The data suggests active accumulation as a factor, which likely means that selling pressure could ease.
Historically, large outflows from major exchanges indicate smart capital accumulation, and this stage often leads to price explosions.
This occurs when demand increases following a downward trend. Analysts predict this will happen as meme coins awaken.
Shiba Inu Price Prediction: Why SHIB Tracks a Potential Breakout
As mentioned earlier, Shiba Inu’s technical outlook includes a descending wedge pattern on the daily chart.
The token continues to trend lower, especially as it nears the upper trendline as it shows signs of renewed buying interest.
For the bulls to confirm an upward breakout, the price needs to decisively clear the resistance in the $0.0000085 to $0.0000098 zone.
Analysts say this should be solid volume and a rally above $0.00001 is essential for short-term continuation.
Shiba Inu will benefit from positive vibes across the broader altcoin market, especially if meme and utility tokens start gaining traction.
Bitcoin performance and investor appetite for high-beta tokens like SHIB will also be important.
Developments across the Shiba ecosystem, Shibarium, and merchant adoption could all provide further tailwinds.
