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Shiba Inu coin $SHIB has been moving in a loop for the past few weeks, staying in the same support area that's marked turning points more than once over the last year. The token is trading near $0.00001238, almost stuck at the $0.00001159 level that's been a support point a few times, from last September to midsummer.
The chart shows a pattern of rounded consolidations, where the price settles into tight clusters before making a move. In previous cycles, these bases were followed by stretches of upside, first toward $0.00001698 and later pushing as far as the $0.00002052 resistance.
Each time, though, the move lost steam before $SHIB's price could challenge higher zones such as $0.00002501 or the longer-term cap near $0.00002970.
This repetition is what makes the current setup interesting. The token is once again boxed between that well-worn floor and a mid-range ceiling, and history shows this is usually where volatility starts to increase.
Game of swings
The range isn't huge, but the transitions out of it have defined $SHIB's bigger swings. If the same playbook repeats, the next step could be a game-changer for the rest of the year.
If $0.00001159 breaks, though, it'll mess with the story and put $SHIB in some unfamiliar territory we haven't seen since early 2023.
Right now, $SHIB is more about structure than hype. The token is repeating an old pattern, and the next move out of this range will show whether it's another rebound or a deeper reset.
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