Shiba Inu price forecast: SHIB triple breakthrough faces key test

Shiba Inu Coin is a meme coin based on Ethereum. It was launched in 2020 and calls itself the "dogcoin killer". Since then, it has built its own ecosystem, including Shibarium and token destruction mechanisms. Its current trading price is approximately US$0.0000564, which has increased significantly within the day. This Shiba Inu price forecast will analyze the possible next trend of SHIB based on chart structure, destruction activities, clearing data and exchange traffic.

Real-time market data

Price: US$0.00000564, 24-hour increase: +12.9%, 24-hour range: US$0.0000522 - 0.0000622, market value: US$3.317 billion, fully diluted valuation: US$5.629 billion, 24-hour trading volume: US$342.603 billion, circulation supply: 589.239 trillion, total supply: 589.496 trillion.

Liquidation snapshot

The total liquidation amount in the past hour was US$551.33 million, of which US$507.58 million was long and US$43.76 million was short; the total liquidation in the past 4 hours was US$570.89 million, US$519,500 was long and US$51.39 million was short; In the past 12 hours, the total liquidation was US$1.02 million, with long positions of US$753.16 million and short positions of US$269.67 million; in the past 24 hours, the total liquidation was US$1.18 million, with long positions of US$858.53 million and short positions of US$318.03 million.

In each time window, the bulls absorbed the vast majority of liquidations, accounting for about two-thirds or more of the total each time. This is a bit unusual in the context of the SHIB's intraday gains reaching double digits and is consistent with a retreat into the support test area rather than a clean and sustained rise.

Exchange traffic

SHIB futures volume was led by OKX, with 24-hour trading volume reaching US$120.48 million, more than double that of the second largest exchange. LBank and MEXC followed closely with approximately $59 million in trading volume, while Bitget, Gate, Bitunix and KuCoin formed mid-range exchanges.

This volume spread across multiple exchanges supports the view that the trend in the current Shibainu price forecast is not confined to a single thin order book.

Social sentiment

Exchange traffic watch

A new traffic report notes that large amounts of SHIB are flowing into exchanges and says this is predictable given the overall surge in volatility.

Large inflows of funds into exchanges are often seen as a precursor to profit-taking and therefore deserve close attention during the current support test.

Token destruction

The $SHIB destruction tracker shows that no tokens have been destroyed in the most recent hour, but the total amount destroyed in 24 hours was 22,625,642 SHIBs, an increase of 177.68% from the previous day. However, the destruction volume dropped by 63.14% over the seven days, indicating that destruction activities were unstable. The circulation supply is approximately 585.66 trillion SHIB, and the total supply is close to 589.16 trillion. Therefore, destruction is still reducing circulation, but the daily progress is inconsistent.

Key Points

SHIB was trading close to $0.0000564, up 12.9% in 24 hours after the daily chart broke through two downtrend channels and a downtrend line.

The price is currently testing near the breakthrough area, which is US$0.0000532, which will determine the next stage of this Shiba Inu price forecast.

There is a fair value gap below the current support level, which means that if it breaks below, prices may fall to the gap first and then try to rebound.

Long positions accounted for the majority of liquidations in all time frames; this is unusual on a day when SHIB is still recording double-digit gains.

The SHIB destruction rate has soared 177.68% in the past 24 hours, while exchange inflows have increased, a mixed signal to watch.

Technical analysis

Daily chart: Test support after double breakthroughs

The daily chart of SHIB has been moving frequently recently. Prices were trapped in one downward channel, then broke through, and then formed another downward channel and broke through again. In addition, a downward trend line that has suppressed prices for a long time has also been broken. These are three independent breakthrough signals appearing on the same chart, which is no small matter for Shiba Inu price forecasts. The price has now retreated to the area around US$0.0000532 for testing, which is the convergence point of trend line breakthroughs and channel breakthroughs. From here, there are two possible paths. If it rebounds, the bullish structure remains intact and opens the door to $0.0000670 and higher. If it breaks below, prices will enter the lower FVG area, and the more likely outcome is to fill the gap and try to rebound rather than collapse directly.

Support and Resistance Levels

Resistance 3: US$0.00000811, Resistance 2: US$0.0000736, Resistance 1: US$0.00000670, Current Price: US$0.0000564, Support/Test Area: US$0.0000532, FVG region: 0.0000486 - 0.0000500, main support: 0.0000440.

Bullish, neutral, bearish scenarios

Bullish scenarios: Support at US$0.00000532 is held and prices rebound. Target: $0.0000670-$0.0000811. Failure condition: Falling below US$0.0000486.

Neutral scenario: Prices fluctuate between support and the FVG region. Range: 0.00000532 - 0.0000600 USD. Failure condition: Falling below $0.0000440.

Bear scenario: Support falls and prices fall to fill FVG. Target: $0.0000486-$0.0000500. Failure condition: Falling below $0.0000440.

Glossary

Descending Channel: A price structure composed of two parallel downwardly sloping lines. Breaking through the upper edge of the channel is usually seen as an early bullish signal, especially if it occurs multiple times in a row like here.

Fair Value Gap (FVG): A visible gap in trading activity left when market prices move rapidly. Prices usually return to these gaps later to "fill" them, so traders view them as magnetic fields.

Falling Trendline: A downward sloping line formed by connecting a series of gradually decreasing highs. When prices finally close above the line, it is usually regarded as the first signal that the downtrend is weakening.

Token Burn: Permanently removes a token from a circulating supply, usually by sending it to an address that no one can access. For SHIB, the community dashboard tracks the total destruction amount by hour, day and week.

Liquidation: occurs when a leveraged trading position is forcibly closed due to a loss exceeding the margin. The emergence of a long clearing cluster during a pullback usually means that late-stage buyers suffer losses in a downtrend.

Exchange Inflow: Tokens are deposited from private wallets on a centralized exchange. Rising inflows are usually related to holders preparing to sell or trade, but this in and of itself does not guarantee selling pressure.

Methodology

This Shiba Inu price forecast is based on daily chart technical analysis, real-time destruction data, exchange traffic reports, clearing and futures trading volume data, and current market data. All quoted price levels are derived directly from the charts provided and no extrapolation or speculative levels are used.

Disclaimer

This document is for information purposes only and does not constitute financial, investment or trading advice. The cryptocurrency market (including Shiba Inu coins) is highly volatile and speculative. Any price levels, support levels or scenarios discussed are probabilistic observations based on technical and on-chain data and are not guarantees. Please research and consult a qualified financial adviser before making an investment decision.