The meme coin Shiba Inu (SHIB) is in the headlines once again — and this time, there’s a technical structure behind the hype. SHIB just closed a weekly candle at $0.00001334, positioning itself above a significant support level and setting the stage for a potential 20% surge if the momentum continues.
The setup is basic: The price is advancing toward the upper Bollinger Band on the weekly time frame, currently around $0.00001554.
This isn’t the first time that SHIB has used this region as a launchpad. The $0.00001200 to $0.00001300 range has acted as a demand zone for months, with multiple successful retests since last year.
The difference now is the candle structure. Last week’s nearly 13% gain came from a clean bounce off the lower part of the range. This was followed by a close above the 20-week moving average for the first time in two months.
The Bollinger Bands are starting to open slightly, suggesting that volatility may be returning after a long period of sideways movement. If SHIB extends to the top band, which it tends to do once breakouts gain traction, the projected upside would put the token at around $0.00001550. That price is roughly 20% higher than the current price.
This would also put SHIB price near its April highs, where it previously struggled to maintain its position.
However, the key now is that it’s reapproaching that level from a higher low with tighter consolidation and less overhead resistance in the mid-band area. The recent breakout also clears a short-term bearish trendline dating back to May.
In this context, the bullish scenario just needs continuation. If volume increases and buyers defend this breakout structure, the Shiba Inu coin could be setting up for its cleanest technical run in months.
