Shiba Inu (SHIB) is back in the spotlight as traders eye a potential rally toward $0.00002, driven by renewed accumulation, a surge in burn activity, and growing whale participation.
The popular meme-inspired cryptocurrency, often referred to as the “Dogecoin killer,” is regaining traction after weeks of muted performance. Technical signals now indicate that SHIB may be preparing for its next upward leg as bullish sentiment quietly builds across the market.
SHIB Holds at Support Amid Renewed Buying Activity
Shiba Inu (SHIB) has found stability near its key support range as accumulation quietly strengthens behind the scenes. After a modest slide earlier this month, the token is now hovering around the $0.00001080–$0.00001100 zone, where traders appear to be building new positions.
$SHIB is recovering, with an initial target at the previous accumulation zone of 1209, reflecting its historical resilience and strong support when market sentiment turns positive. Source: $SHIB KNIGHT via X
Recent on-chain data shows that SHIB’s burn rate has spiked, reducing the circulating supply and reinforcing a deflationary outlook for the cryptocurrency. Despite mild volatility, the token continues to face resistance at the $0.00001178 level, aligning with its 50-day moving average. A clear breakout above this threshold could reignite the bullish momentum that many investors are anticipating.
Accumulation Patterns and Technical Signals
Technical analysts are increasingly highlighting bullish accumulation patterns in the Shiba Inu price chart. The daily structure shows higher lows forming along a stable support base, often considered a precursor to an upside breakout.
Based on several trading analyses, SHIB’s consolidation between $0.00001250 and $0.00001270 has provided a good setup for the potential breakout. The next resistance zones are around $0.00001350–$0.00001400, while a strong base at $0.00001200 is crucial to maintain the existing bullish structure.
The $SHIB chart is showing signs of bullish accumulation, indicating that buyers are gradually building positions in anticipation of a potential upward move. Source: $SHIB KNIGHT via X
Momentum indicators like On-Balance Volume (OBV) and Moving Averages (MA) show that buying pressure is progressively overwhelming selling volume. A confirmed close above $0.00001300 would validate the breakout hypothesis, possibly laying the groundwork for an even larger move to $0.000016 and beyond.
Is $0.00002 Possible This October?
With investors seeking a rebound, the majority of analysts consider $0.00002 as a likely target for October—provided SHIB holds its momentum and volume. Some chartists have said that a clean close above $0.00001400 may trigger a rally towards the $0.00002000 zone, approximately doubling its present price.
However, market conditions remain critical. Broader cryptocurrency sentiment, with a focus on the movements of Bitcoin and Ethereum prices, can propel SHIB’s next direction or suppress it. Without more trading volume and retail participation, the target may remain elusive in the short term.
Risks and Key Levels to Watch
Shiba Inu is approaching a number of important levels that traders are monitoring. Close to support at $0.00001010 is an important cushion. A fall below it could push the price down towards $0.00000982 or even lower and test the patience of investors.
Resistance levels at $0.00001178 and $0.00001300 are important on the upside. Continued trading above these levels would strengthen the bull argument and might attract further buying interest.
Whale accumulation is equally important in SHIB’s price action. The latest on-chain data points to whales accumulating on bearish occasions, a sign of belief in the long-term path of the token.
Second, the growing burn rate still reduces circulating supply, and this supports bullish projections on the Shiba Inu coin price. Finally, SHIB performance remains closely aligned with overall market sentiment. Strong rallies in Bitcoin and other large-cap cryptocurrencies can transfer and uplift the Shiba Inu price.
Outlook for October and Beyond
In total, the Shiba Inu October outlook appears to be cautiously positive. The coordination of accumulation, strong community backing, and repeated burn activity gives a positive near-term prognosis.
If bulls are successful at breaking resistance, the price prediction of the Shiba Inu is a potential flip to $0.00002 by month’s end. On the other hand, failure to deliver may result in SHIB holding within its current range.
Shiba Inu was trading at around $0.00001070, down 3.42% in the last 24 hours at press time. Source: Brave New Coin
Shiba Inu long-term price predictions, including in 2025 and beyond, are varied significantly. Conservative projections predict steady gains in the $0.00002–$0.00005 area, while more bullish predictions anticipate even more substantial increases through the expansion of the ecosystem, adoption of Shibarium, and continued burning efforts.
At present, the emphasis is still on short-term momentum. Whether Shiba Inu can translate this tranquil accumulation period into a breakout that lasts will confirm whether or not October is set to become an anchor month for the well-liked meme cryptocurrency.