Have you ever watched a token you love get absolutely crushed for weeks, only to see one single candle flip the entire mood of the market? That’s exactly what happened to Shiba Inu yesterday. One fat green candle swallowed the last four red ones whole, right at the yearly low. It felt like someone finally hit the “enough is enough” button.
I’ve been staring at SHIB charts longer than I care to admit, and I can’t remember the last time we saw this kind of conviction at a major support zone. So let’s break it down properly – no hype, no nonsense, just what the price action is actually telling us right now.
The Candle That Changed Everything
A classic bullish engulfing pattern on the daily timeframe is already powerful. When it prints exactly on a yearly low that has been tested multiple times? That’s the kind of setup technical traders dream about.
Think about the psychology for a second. Sellers have been in control since the summer, pushing price lower and lower, shaking out weak hands at every step. Then, out of nowhere, buyers step in with such force that they erase the last four days of pain in a single session. That’s not random noise – that’s absorption.
In my experience, when a major support level produces this type of violent reversal candle, especially after an extended downtrend, the odds of at least a strong corrective rally go way up. We’re not calling for a new all-time high tomorrow, but the probability of seeing significantly higher prices in the coming weeks just increased dramatically.
Why This Level Actually Matters
The zone around $0.0000082–$0.0000086 isn’t some arbitrary line on the chart. It’s the final major demand area before we start talking about prices most SHIB holders would rather forget. This range held beautifully throughout 2024 as support, flipped to resistance during the summer sell-off, and has now been reclaimed as support again.
More importantly, this is where the highest volume of trades occurred during the last major accumulation phase. In volume profile terms, this is dense high-volume node territory – exactly the kind of area smart money defends when they’re done letting price drop.
Price tends to return to areas of previous high volume until that volume is fully resolved. When price defends these zones with conviction, it usually marks the end of the distribution phase.
The Broader Market Context Nobody’s Talking About
Let’s zoom out. While everyone is focused on Bitcoin pushing toward 100k and Ethereum doing its thing, the meme coin sector has been quietly bleeding for months. SHIB, DOGE, PEPE – they’ve all been making lower lows while the majors consolidated or climbed.
That divergence rarely lasts forever. Historically, when Bitcoin stabilizes after a big move (which it’s doing right now), capital tends to rotate into the higher-beta names. Meme coins are the ultimate high-beta play. A confirmed bottom in SHIB here could easily act as the spark for the entire sector to wake up again.
I’m not saying we’re definitely there yet, but the setup is lining up in a way we haven’t seen since early 2024.
What Needs to Happen Next – The Confirmation Checklist
One candle does not a bull market make. We need follow-through. Here’s exactly what I’m watching over the next few days and weeks:
- A clear higher low above yesterday’s candle low (anything above $0.0000084 would be perfect)
- Volume that stays elevated or increases on up days, drops on pullbacks
- Price reclaiming the point of control around $0.0000105–$0.0000110 (this is where the fattest volume of the entire yearly range sits)
- Relative strength versus other meme coins – SHIB should start outperforming PEPE, BONK, etc.
- Bitcoin remaining above $88,000 (a BTC breakdown would ruin everything)
If we get four out of these five over the next two weeks, I’ll be extremely confident calling this the actual bottom.
The Utility Angle Everyone Keeps Ignoring
While we’re here, can we talk about something that rarely gets mentioned in SHIB price analysis? The ecosystem actually keeps building. The new debit card launch that lets people spend SHIB in the real world and earn rewards isn’t just marketing fluff – it’s real-world adoption.
Every time a narrative token starts bridging into actual utility, something interesting happens to price discovery. Look at what payments integration did for XRP back in the day, or what staking did for SOL. It’s never the sole driver, but it creates a floor that pure meme coins simply don’t have.
In my view, the combination of technical reversal + quietly growing utility is what separates projects that recover strongly from those that just fade away.
Possible Price Targets If This Plays Out
Let’s say the bulls manage to confirm this reversal. Where could price actually go?
- Short-term (1–3 weeks): $0.0000120 – $0.0000140 (value area low and previous breakdown level)
- Medium-term (1–3 months): $0.0000180 – $0.0000220 (point of control and 2024 highs)
- Stretch target (if meme season returns): $0.0000350+ (2021-style parabolic move, not impossible in the right environment)
Even the conservative targets would represent 100–150% gains from current levels. Not bad for a token everyone was calling dead two days ago.
The Bear Case (Because We Have to Be Honest)
Of course, none of this is guaranteed. If Bitcoin rolls over hard, or if we simply see a retest and failure of the yearly low, things could get ugly fast. The next major support below current levels sits closer to $0.000005, and nobody wants to see that.
There’s also the very real possibility that yesterday’s candle was simply a liquidity grab – shaking out shorts and weak longs before the final leg down. It’s happened before.
The difference this time? The volume, the clean defense of a major level, and the broader rotation signals we’re starting to see across risk assets. The bear case exists, but right now it feels like the lower-probability outcome.
Final Thoughts – Why I’m Cautiously Excited
I’ve learned not to get emotional about price action, but I’d be lying if I said this setup doesn’t have my attention. Everything is lining up in a way that feels different from the fake bounces we’ve seen over the past few months.
The candle. The level. The volume. The broader market rotation. Even the utility developments happening in the background. It’s not perfect, and we still need confirmation, but for the first time in a long time, SHIB looks like it actually wants to go up.
Sometimes that’s all it takes – one moment where the balance of power shifts, and suddenly the entire narrative changes. Yesterday might have been that moment.
Either way, the next few days are going to be fascinating. Keep your eyes on that yearly low. If it holds, we might be talking about something much bigger than just another dead-cat bounce.
