June 16, 2025 — SHIBA INU (SHIB/USD) formed a descending channel pattern on the 4-hour chart.
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A descending channel pattern appears when price moves between two downward-sloping parallel trendlines, indicating a consistent series of lower highs and lower lows.
If SHIB confirms a breakout above the upper boundary of this channel, the price may rise by approximately 45% from the current level of $0.00001212, targeting a move toward $0.00001750.
The 50-period Exponential Moving Average (EMA), currently at $0.00001242, acts as dynamic resistance. A strong breakout above this EMA, paired with volume increase, could trigger a bullish reversal and initiate the upward move.
The price has already rebounded from the lower boundary of the channel. This reaction, combined with the narrowing structure, often precedes a breakout attempt. If buying pressure continues, SHIB may reach the projected target in the coming sessions.