In recent times, it seemed like popular meme-inspired cryptocurrency Shiba Inu (SHIB) has been kind of out of context with its price showing nothing more than just sideways movement above support, while most of the market was popping either up or down.
Now, there is a technical formation that may finally bring attention back to SHIB, and if the conditions line up as they should, it could lead to a 100% move.
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The signal comes from the weekly Bollinger Bands, which are a long-time favorite for spotting volatility squeezes and breakout potential. With the upper band currently sitting at $0.00002585 — 106% above SHIB's current price of $0.00001258 — that is the ceiling traders will be watching.
It is not a promise but more like a level that, in setups like this, can start acting like a magnet once the price begins to stretch.
Source: TradingView
What the market has right now is consolidation, with SHIB holding steady at around $0.00001107, creating what looks like a base just above multi-month support, while the middle band, sitting at $0.00001659, offers a closer target about 32% above current levels, marking the kind of midpoint that often becomes the real test for whether any move has legs.
But that kind of spike does not happen alone. Bitcoin has been showing a lot of strength, and when that happens, altcoins tend to do well, especially meme coins like SHIB.
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The real test is whether SHIB can move through the mid-band first — because that is when things shift from potential to momentum, and the upper band stops being a technical curiosity and starts looking like a plausible next stop.
So, the big question now is whether SHIB is just catching its breath or gearing up for a move. At the very least, the chart is giving traders a reason to take a closer look.
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