- •Shiba Inu’s price holds steady above key support at $0.00001200, setting the stage for an 11% upside move.
- •October’s strong seasonal history for SHIB gives weight to the bullish technical projections targeting $0.00001410.
- •Clearing resistance at $0.00001410 could pave the way for even higher gains, reaching up to 40% from current levels.
Shiba Inu (SHIB), Ethereum's leading meme coin, has garnered attention again as its price hovers around $0.00001260 after testing September lows at $0.00001170. While market fluctuations are inevitable, technical indicators suggest an 11% potential upside from its current level, with a target of $0.00001410 in the coming days.
According to recent chart analysis, Shiba Inu’s price movement aligns with Bollinger Bands projections, hinting at a sharp upward move. If the meme coin holds its support at $0.00001200, the projection for a price surge to $0.00001410 remains in play. This level aligns with past seasonal performances, particularly as Shiba Inu has historically seen strong growth in October.
Historical Performance Strengthens the Current Setup
October has proven to be a lucrative month for SHIB in previous years. In 2021, the token gained an extraordinary +833%. More recently, in 2023, it ended the month with a modest +6.04% gain, and in 2024, it posted a +2.46% increase. Historically, the median performance for SHIB in October stands at +6.63%. This seasonal trend strengthens the current technical outlook for the meme coin.
The current price action shows that SHIB faces immediate support at $0.00001200. Should the price maintain this level, the path toward $0.00001410 remains clear. Conversely, failure to hold this support could lead to a pullback, bringing SHIB back into its multi-month base range.
Resistance levels lie between $0.00001300 and $0.00001410, with the potential for further gains if these levels are cleared. Above this zone, the next major resistance is located between $0.00001500 and $0.00001800, representing a potential 20%-40% increase from the current price.
Outlook for Shiba Inu in 2025
October could become Shiba Inu’s best-performing month of 2025. With the current price trajectory, the meme coin is on track to deliver substantial returns, potentially in line with or surpassing previous gains. However, sustaining the $0.00001200 level is crucial for any further upside movement.
The market remains focused on the coming days to see if SHIB can replicate its past performance and achieve the projected 11%-40% rise in price. If the momentum holds, October could indeed turn into a banner month for Shiba Inu, reinforcing its seasonal strength and technical potential.