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In early 2026, Shiba Inu (SHIB) emerged as one of the best-performing memecoins. After hitting a low of $0.0000068 towards the end of 2025, SHIB jumped nearly 50% from its lows. It reached its highest price level since November 11 and outperformed most of the large-cap cryptocurrency assets.
Over the 7 days, SHIB gained 26.79%, while the memecoin sector has risen by 24%, with the total memecoin market cap reaching $47 billion. This strong performance indicates a definite rotation into high-beta assets as risk appetite improves, together with the overall crypto market.
Technically, the daily chart for SHIB shows that the token formed a descending wedge pattern, made up of two descending and converging trendlines. A bullish breakout occurs when the two lines are nearing their convergence.
The last time this happened, the token rebounded by 40%. The Relative Strength Index (RSI) continues to rise.
SHIB managed to recover its 50-day Exponential Moving Average (EMA) and is presently testing the resistance around the 100-day EMA at $0.0000166.
If a breakout occurs, the 200-day EMA close to $0.0000181 is a key medium-term trend confirmation level, and would be the next target.
As a result, the SHIB price forecast is positive, with the immediate target at $0.00001484, its highest point on September 13. This price is nearly 52% higher than the current level.
In an X post, Javon Marks, a popular crypto analyst with over 50,000 followers, predicted that the coin would surge by 246% to $0.00003.
The RSI remains above the neutral level of 50, indicating there is still buying strength, but the market is not heated up to the extreme level.
The Stochastic Oscillator is high and it shows strong momentum; however, the possibility of a short-term decline remains.
The Supertrend indicator has turned bullish for the first time since mid-2025, usually followed by big price increases lasting several weeks.
The key downside support is at $0.0000142 and the structural invalidation level is close to $0.0000124. If the price drops below this area, the bullish scenario would be less likely.
Also Read: SHIB Surges in 2026 as Whale Control and Memecoin Signals Reappear
The open interest for SHIB has reached $145 million, marking its highest level since October 10, and rising sharply from $60 million in November.
The open interest hike, along with the price rise, indicates new long positions are being taken rather than the liquidation of shorts.
The Crypto Fear & Greed Index has recovered from the very low fear levels of around 10 that were seen in December to 42.
Leveraged meme-focused instruments, including a 2x Dogecoin ETF, have ranked among the top-performing ETFs of early 2026, underscoring investor demand for high-beta exposure.
While SHIB lacks a direct ETF, these flows act as a sentiment amplifier for the entire memecoin complex.
Near-term upside targets are seen at $0.0000185 and $0.0000210.
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