Shiba Inu Price Breakout Imminent: $0.00000536 Target Looms

Shiba Inu's price has been coiled and waiting for a breakout. According to recent data, the token is trading around $0.00000492, down 1.5% on the day.

The market cap of Shiba Inu sits near $2.9 billion, with a fully diluted valuation of $4.922 billion given its massive circulating supply.

However, it's worth remembering that Shiba Inu is still sitting close to 94% below its all-time high from October 2021.

The hourly chart shows a symmetrical triangle forming, with the price parked near the apex. Breaking the upper boundary could lead to a target of $0.00000520, while breaking the lower boundary could point to $0.00000482 first.