Shiba Inu (SHIB) Down 2.98% as Tight Range Trading Keeps SHIB Near Key Support

Shiba Inu (SHIB) is trading lower on Wednesday, February 4, as the popular meme cryptocurrency continues to trade within a tight trading range.

Although the short-term trading of the cryptocurrency is under pressure, analysts have mixed views on the long-term outlook of the cryptocurrency, with a positive bias based on chart analysis.

At the time of writing, SHIB is trading at $0.000006723, down by 2.98% over the last 24 hours, based on the data from CoinMarketCap.

The daily trading volume of the token is $170.76 million, while the market capitalization is close to $3.99 billion. In the last 24 hours, the price of the token has fallen but still remained above an important support level.

Source: CoinMarketCap

Shiba Inu Needs 12x Surge to Peak

Crypto analyst SHIB POSSESSOR offered insights on X on February 4, discussing what he believes are more realistic expectations for SHIB in the coming years.

He explained how he believes that for the 2025 and 2026 time period, SHIB’s high price potential will be between $0.00001 and $0.00003. While a recovery like this would be positive for SHIB, it would still be below its previous all-time high.

Moreover, the analyst added that if a return to the previous peak is expected, then a 12x or 13x increase from the current price levels is required. However, according to the analyst, such a move is rare for a meme asset, especially if a major improvement in adoption and utility is not seen.

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SHIB Triangle Pattern Signals Imminent Breakout

Meanwhile, another analyst, CRYPTO SHIB, presented a more positive technical analysis. In a recent write-up on X, CRYPTO SHIB pointed out that SHIB’s price chart is seen to be developing a symmetrical triangle formation.

Source: X

As indicated by lower highs and higher lows since the end of 2025. This technical formation is seen as a precursor to a sharp price movement, either up or down.

According to CRYPTO SHIB, the price action is currently trading just above the $0.0000066 support level, and the trading volume is falling. This, according to the analyst, may suggest that there is increasing pressure in the range, which may indicate that a strong breakout is imminent.

Overall, Shiba Inu is still in a critical technical position. While its longer-term outlook is still measured, its short-term technical signals indicate that its next significant move may not be far off.

The market is currently watching whether Shiba Inu can break out of its current structure or if it will continue to consolidate in the near future.

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