Shiba Inu could be creeping back into historic territory — and one analyst says a move toward $0.000088, a level SHIB hasn’t seen since 2021, is back on the table.
Why the buzz
Crypto Patel, a market analyst, published a chart showing SHIB trading inside what he calls “Support Zone (Accumulation Zone 1).” That same zone previously preceded two massive rallies: a 1,660% surge in 2021 and a 746% gain in 2024. Patel notes the token is currently around $0.000006 and sitting above a key floor at $0.000004. If that floor holds and buyers return, he projects a run to $0.00008789 — roughly a 1,364% upside from today’s price. He also plotted a more extreme bullish ceiling equating to a 2,200% move but acknowledged that outcome is less likely even in a strong altseason. (Patel shared the setup on Twitter on April 18, 2026.)
Technical picture
The chart shows a descending resistance line compressing SHIB’s trading range — a classic squeeze that can precede sharp directional moves once it breaks. Whether that break becomes a rally or a sell-off will depend on which side attracts decisive volume.
On-chain and supply dynamics
On-chain data adds nuance. Exchange netflow recently turned negative, with a net outflow of 41.67 billion SHIB — a sign that some holders are withdrawing tokens to personal wallets, which often signals accumulation. But the broader supply picture remains significant: over 81 trillion SHIB still sit on exchanges, a level that could sustain selling pressure if holders decide to exit.
Bear cases and risks
Not everyone is convinced. Other analysts point to a pattern of lower highs and resistance clustered between $0.0000073 and $0.0000079. If those levels cap upside or if support breaks, some models place a downside target near $0.0000051. In short: the setup that previously delivered massive gains is present again, but so are clear technical and supply-related risks.
Bottom line
SHIB is trading in a historically important zone that has preceded major rallies, and some on-chain signals suggest accumulation. Still, a large tranche of tokens remains on exchanges and resistance is stacked overhead. The next big move will likely come from whether buyers step in decisively at the levels that matter — or if sellers regain control.
Sources: Crypto Patel (Twitter), TradingView chart, on-chain exchange flow data. Featured image: Unsplash; chart: TradingView.
(Disclaimer: This is market commentary, not financial advice.)
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