Shiba Inu (SHIB) may be on the verge of a historic price breakout as it approaches the apex of a massive 3-year symmetrical triangle pattern. According to TradingView analyst BITfinity, this long-term technical structure could propel SHIB to $0.0001, marking a potential 733% price increase from current levels.
Although SHIB has remained relatively stagnant between $0.000012 and $0.000013 over the past week, with minor volatility around May 6 and 7, the token is now consolidating near a critical point in its price structure, one that could soon give way to a powerful directional move.
3-Year Symmetrical Triangle Signals Looming Breakout
BITfinity’s analysis focuses on a weekly chart, where SHIB has formed a well-defined symmetrical triangle since reaching its all-time high of $0.0000884 in October 2021. This triangle is composed of a descending trendline of lower highs and a strong horizontal support level near $0.00001.
Throughout the past three years, SHIB has respected this triangle’s boundaries. Bullish attempts, such as those in March 2024 and December 2024, have been rejected near the upper resistance line. SHIB briefly hit $0.000045 and $0.000032 in those months respectively, only to retrace back toward support.
Despite multiple bearish waves, the $0.00001 support has held firm, acting as a floor during selloffs. As SHIB now closes in on the triangle’s apex, pressure continues to build for a decisive breakout.
BITfinity’s chart suggests that if SHIB clears the 50-day simple moving average (SMA 50) at $0.000017, it could trigger a shift toward a bullish trend structure featuring higher highs and higher lows. The next key resistance lies at $0.00005, with the long-term target set at $0.0001.
Long-Term Holders on the Rise Amid Speculator Exodus
Adding strength to the technical setup, on-chain metrics reveal a significant behavioral shift among SHIB holders. Data from IntoTheBlock shows a 1.46% increase in long-term holders, wallets that have held SHIB for over one year.
Meanwhile, short-term traders and medium-term holders have exited the market. Addresses holding for under a month fell by 6.88%, and those in the one-to-twelve-month range dropped by 4.45%.
This transition signals a move away from speculative trading toward committed accumulation. With fewer quick-flip traders in the ecosystem, sell-side pressure has decreased. Such a shift often paves the way for more sustainable rallies, as long-term holders tend to remain patient during volatile phases.
Derivatives Data Supports a Gradual Long Bias
Market structure data from CoinGlass further reinforces growing optimism. Their Open Interest (OI)-Weighted Funding Rate for SHIB, analyzed from early April to early May, reveals increasing support for long positions.
Even as funding rates turned negative, typically a bearish indicator, SHIB’s price held above the critical $0.00001 level. Bears failed to break this zone despite repeated shorting attempts in the derivatives market. This resilience indicates that the downside momentum is weakening, while bullish sentiment is quietly building beneath the surface.
As the funding environment begins to favor bulls, a shift in momentum could push SHIB out of its multi-year consolidation range.
Related article: SHIB Team Addresses Misinformation and Community Frustration Amid Market Challenges
What Happens If SHIB Breaks Out?
Should SHIB surpass its near-term resistance levels, a breakout from this 3-year triangle could open the floodgates. BITfinity projects that the price could first test $0.000017 before climbing to $0.00005, eventually reaching $0.0001 if market momentum sustains.
At its current price of $0.000012, hitting the $0.0001 target would represent a 733.33% increase, a return that could revive interest in the meme coin and bring new attention to its evolving fundamentals.
