Shiba Inu Sees Potential Breakout After Viral Post Claims Altcoin Season Is Near
The Shiba Inu (SHIB) cryptocurrency has been gaining attention after a viral post claimed that altcoin season is about to explode, with SHIB being singled out for an 'awakening'. This comes as the chart shows a price fake-out of a long-term falling channel before snapping back down. Currently, the price is sitting on a support level that could decide its next big move.
The market data from August 19, 2026, at 11:55 IST, shows SHIB's price at $0.000004470 with a 24-hour change of +1.86%. The market capitalization stands at $2.62 billion, and the total supply is 589.49 trillion SHIB.
The post from Whale News Daily on X claims that Shiba Inu is about to trigger altcoin season, calling the move an 'awakening'. However, this claim has not been independently verified by CoinGabbar, and it's not backed by any on-chain data specific to SHIB. The chart analysis suggests a possible breakout above the $0.000006604 zone, but this would require a confirmed close above it.
CoinGabbar analysts believe that the failed breakout in May is the key data point here, and SHIB tried to escape its multi-year channel and got rejected hard. The RSI at 46.44 shows no strong bias either way right now, and the price sitting on support with the EMAs still overhead suggests this is a wait-and-see zone.