SHIB Forms 17X Pattern Toward $0.00023 As Traders Watch Key Breakout Levels

SHIB is showing a powerful 17X projection that could lift its price to $0.00023 once the breakout forms clearly.

The pattern reveals tightening movement which signals high potential energy building before a decisive move begins soon.

Investors remain focused as support levels strengthen near $0.000009 while the upper resistance line narrows tightly.

Shiba Inu (SHIB) traders are closely monitoring a tightening chart pattern that signals a potential breakout. The meme-based token could surge 17X from current levels, targeting $0.00023, according to technical data shared by @CryptoElites. The current SHIB/USD formation shows a large symmetrical triangle consolidating over several weeks. Analysts believe a breakout above the triangle’s resistance could initiate a powerful upward move. The projected gain aligns with the broader recovery trend seen in altcoins this quarter.

The trading structure shows clear resistance near $0.000023 and a support base around $0.000009. Multiple retests of this support line have strengthened its reliability, suggesting sustained buying activity from retail and institutional traders. The gradual build-up within this formation indicates the market’s readiness for an aggressive breakout phase.

On X (formerly Twitter), @BezosCrypto confirmed the 17X projection, labeling $0.00023 as SHIB’s short-term target. The post gained significant engagement, with thousands of traders reacting to the bullish setup. Comments from investors indicate strong anticipation for the next major rally phase.

Technical Indicators Suggest an Imminent Move

The SHIB/USD chart highlights converging trend lines, narrowing toward an apex. This pattern typically precedes explosive price action. Technical observers suggest that volume compression within such triangles often leads to a sharp volatility spike once price breaks out.

Key historical data reveals that SHIB has experienced similar setups before large market rallies. The most recent comparable move in 2021 resulted in a 45X surge over a few weeks. With the current consolidation pattern tightening, analysts foresee another potential exponential phase.

The potential rally target of $0.00023 implies a 17X increase from the lower trend boundary near $0.000009. This projection is derived from the measured move principle—where the height of the triangle is added to the breakout level. Such targets are often used by traders to estimate the extent of momentum-driven moves.

Moreover, the consistent formation of higher lows within the pattern signals strong accumulation. Each pullback appears to be met with significant buying interest, reflecting sustained optimism among market participants. This structure supports a bullish continuation narrative once key resistance levels are breached.

As SHIB prepares for a possible breakout, one question dominates trader discussions: Could this 17X setup ignite the next major meme coin rally?

Community Reaction and Market Outlook

The SHIB community’s engagement with this forecast has been remarkably strong. Enthusiasts view the setup as a potential revival of the meme token’s 2021 rally spirit. The growing discussion on social platforms suggests a renewed sense of excitement surrounding SHIB’s price trajectory.

On X, users responded to @BezosCrypto’s post with varying expectations, with some predicting even higher multipliers of 5–10X as an interim phase. Others described the $0.00023 projection as “ambitious but realistic,” given the historical patterns seen in SHIB’s prior cycles.

The $SHIB tag has surged in trending metrics, reflecting broader retail interest returning to the token. Market watchers note that SHIB remains one of the most actively discussed assets on social media, especially during consolidation phases.

As traders assess near-term resistance levels, SHIB’s price stability above $0.000009 continues to inspire confidence in its bullish potential. The symmetrical triangle pattern, combined with positive trader sentiment, supports the view of an upcoming directional move.

If SHIB manages to sustain upward momentum beyond $0.000023, analysts suggest that the pathway to $0.00023 becomes more achievable. This scenario aligns with the token’s long-term technical trajectory based on multi-cycle recovery models.