- Analyst Ali Charts identifies $0.0000067 as the “make-or-break” resistance; reclaiming this level as support is the primary requirement for a bullish reversal.
- A successful breakout could catapult $SHIB to $0.0000099, representing a projected 50% gain from the current consolidation floor.
- The Q2 2026 rollout of Fully Homomorphic Encryption (FHE) on Shibarium aims to transform the network into a leading private Layer-2, potentially shifting SHIB’s perception from “meme” to “utility.”
The ever-volatile world of crypto meme coins, Shiba Inu ($SHIB) continues to capture attention with its latest technical setup. Prominent crypto analyst Ali Charts recently shared a weekly chart on X (formerly Twitter), illustrating SHIB’s price action from July 2024 through projected levels into July 2026. The chart depicts a stark downtrend, with the token’s value plummeting from highs around $0.0000329 to a low of $0.0000067, marked by a downward-pointing triangle emphasizing the bearish pressure.
Descending Triangles and Volume Gaps: The Path to $0.0000099
According to Ali Charts, SHIB is now testing $0.0000067 as a pivotal resistance level. “Reclaim $0.0000067 as support, and $0.0000099 comes next,” the analyst noted in the post, suggesting a possible shift in momentum if buyers can hold the line. This analysis comes at a time when SHIB’s price hovers around $0.0000065-$0.0000066 USD, per data from CoinGecko and Yahoo Finance, reflecting a modest 0.2% daily increase but a broader weekly uptick of about 7%. The token’s market cap stands at approximately $3.87 billion, with a circulating supply of over 589 trillion tokens.
The weekly chart highlights SHIB’s challenging journey since its 2021 peak, where it once reached an all-time high of $0.000086. Over the past two years, macroeconomic factors, reduced hype around meme coins, and competition from newer projects like Dogecoin derivatives have contributed to the erosion. Recent X posts from trackers like Shibburn show minimal token burns—only 3 million SHIB removed from circulation in the last 24 hours, a 48% drop over the week—failing to significantly impact supply dynamics and bolster prices.
Community Dynamics: Minimal Burns vs. Rising Institutional Curiosity
Community sentiment remains mixed, with replies to Ali Charts’ post ranging from optimistic calls for a “dog season” rebound to bearish warnings of further shorts. Traders point to low trading volume, around $165 million daily, as a sign of waning interest, yet the analyst’s call for reclaiming resistance could spark renewed buying if broader market conditions improve, such as a Bitcoin rally influencing altcoins.
For investors, this setup presents a high-risk, high-reward scenario. A successful flip of $0.0000067 could validate the bullish thesis, targeting $0.0000099—a roughly 50% gain from current levels. However, failure to hold might reinforce the downtrend, potentially testing lower supports. As always in crypto, due diligence is key; SHIB’s future hinges on ecosystem developments like Shibarium upgrades and real-world utility adoption.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
