Shiba Inu Forms Bull Flag: Can It Reach $0.00001?

Shiba Inu's chart has formed a bull flag pattern, which traders see as a possible continuation setup. A strong upward move followed by consolidation that moves lower creates this pattern. If SHIB breaks higher through its upper boundary with strong volume, it could signal further price increases.

The 'price deleting a zero' refers to reaching $0.00001 after the decimal point. At press time, SHIB was up 3.35% in the last 24 hours to $0.000005162 and down 4.25% weekly.

Open interest in the crypto market has held steady near $137.42 billion, while volume has dropped nearly 14%, suggesting traders are waiting for a clearer directional cue.