Shiba Inu Bulls Gear Up for Possible Breakout to $0.00002

As meme coins prepare for a bullish comeback, Shiba Inu marks a trendline breakout. Will this reversal drive the SHIB price to $0.000020?Shiba Inu recently lost its position in the crypto market to Litecoin, which has been on a bullish trend. While the second biggest meme coin currently holds a market cap of $9.61 billion, it trades at a market price of $0.00001631.With a 24-hour recovery of 2.82%, the meme coin has turned its 7-day return into a positive 6.01%. Will this new recovery in Shiba Inu result in a sharp parabolic rise? Let's find out.Shiba Inu Price Breaks Key Resistance TrendlineOn the 4-hour price chart, Shiba Inu's recovery has broken through a long-standing descending trendline. Currently, Shiba Inu's price is testing the 23.60% Fibonacci level at $0.00001619.With the trendline breakout, Shiba Inu is also forming a potential inverted head and shoulders pattern. This pattern is generally considered a highly bullish indicator for a reversal rally.

Shiba Inu Price Chart

The neckline of the bullish pattern sits at $0.00001680, slightly above the 23.60% Fibonacci level. Amid the recovery, the DMI indicator has shown a positive crossover between the VI lines, with a minor uptick in the sloping ADX indicator.As the indicators hint at the potential for a bullish trend restart, an increase in the ADX line would signal a rise in momentum. As the meme coin approaches the neckline, the upper Bollinger Band will act as a resistance.While Shiba Inu holds above the 20-day SMA and shows a positive trend in the lower Bollinger Band, the chances of an uptrend continuation are significantly higher. This is because the rising lower Bollinger Band compresses the trend, while the flat upper Bollinger Band indicates consolidation before a potential breakout.Thus, the increased pressure suggests a bullish breakout may be on the horizon.Whale Holdings and Market ImpactAmid the chances of a bullish breakout, Shiba Inu h oldings have seen a major shift since the start of 2025. The wallets with 100 billion to 1 trillion SHIB holdings band saw a 1.92% decline, while the 1 trillion to 10 trillion SHIB band dropped by 0.90%. The 10 billion to 100 billion SHIB holding band also witnessed a 0.42% decline.

Shiba Inu Balance By Holding

Surprisingly, the 10 trillion to 100 trillion SHIB band increased by 3.79%, indicating a strong accumulation trend among larger SHIB holders. This suggests that whales have slightly reduced their holdings. However, the diamond hands of more enormous whales hint at a potential bounce back.Shiba Inu Price Targets: Can SHIB Reach $0.000020?As whales are likely to increase their bets on Shiba Inu, the price action hints at a potential breakout rally. As per the Fibonacci levels, the inverted head and shoulder breakout rally will likely reach the 61.80% Fibonacci level at the $0.000020 psychological mark.This accounts for an upside potential of nearly 25%. On the flip side, the crucial support for Shiba Inu remains the lower Bollinger band at $0.00001524 and the $0.00001368 support level.

Text source: The Crypto Basic

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