SHIB Triangle Breakout Setup: Target $0.00001009
Shiba Inu (SHIB) is nearing the end of an accumulation phase inside a descending triangle on the 4-hour chart. The setup has capped SHIB since mid-February, with price stuck between a falling resistance trendline and a lower support.
Analyst Leeron Shim says SHIB is attempting another breakout attempt after a failed move on March 16 near $0.00000644. This time, the 100-period moving average (100 MA) is acting as support, while price stability over the past week suggests weaker selling pressure.
For confirmation, traders need SHIB to print a decisive close above the descending resistance trendline. That would trigger a high risk-to-reward long setup.
The bullish target is a retest of the January high at $0.00001009, about a 61% gain from the current ~$0.000006236.
Fundamental/flow support is also highlighted via Coinglass: exchange outflows exceeded inflows in the past 24 hours. Inflows were $6.04M versus outflows of $6.87M (a difference of $822,530), roughly 131.9B SHIB withdrawn. Most withdrawals reportedly came from Binance (net outflow $719,340), followed by OKX ($319,050) and Bitstamp ($152,730).
Overall, this combination of a technical breakout trigger (SHIB above resistance) plus tightening exchange supply is framed as a catalyst for the next leg higher.
Bullish
This news is bullish for traders because it combines a clear technical trigger with supportive supply-flow data. Technically, SHIB is “rounding out” near the apex of a descending triangle; in prior consolidation phases, these patterns often resolve with a sharp move once price can close decisively above the descending resistance. The article stresses that confirmation requires a strong close above the trendline, reducing the risk of a false breakout.
From the market microstructure angle, the Coinglass figures show exchange outflows exceeding inflows over the last 24 hours. In similar setups, rising withdrawal activity typically implies that sellers are less willing to distribute coins to exchanges, which can amplify upward price reaction when buyers step in. The stated plan is a long setup targeting the prior January high ($0.00001009), meaning traders may treat a breakout as a momentum entry and watch follow-through/volume.
Short-term, traders should monitor whether SHIB can reclaim and hold above the resistance trendline (the key “invalidation” level for the breakout thesis). If it fails, the price may revert to the triangle range again. Long-term, reclaiming the $0.000010 area could shift sentiment and attract trend-following capital, but the move’s durability will still depend on sustained inflows and broader market risk appetite.