Date: Tue, Aug 19, 2025 | 12:20 PM GMT
The cryptocurrency market is experiencing notable selling pressure as Ethereum (ETH) slips back to $4,300 from its recent high of $4,780. This pullback has spilled over into the major memecoins, many of which remain under pressure.
Yet, despite the broader weakness, Shiba Inu (SHIB) has managed to hold steady with only minor fluctuations over the past week. More importantly, the token is now flashing a bullish technical setup that looks strikingly similar to the breakout structure recently seen in API3 (API3).
SHIB Mirrors API3’s Breakout Structure
Looking at API3’s daily chart, the token had been trapped in a descending triangle pattern since the start of the year. However, after months of compression, API3 regained strength by bouncing off the 100-day and 200-day moving averages and finally broke above its descending trendline resistance (circled on the chart). This breakout ignited a massive 132% rally, sending API3 sharply higher.
Now, SHIB is tracing the same path.
The token is also trading within a descending triangle formation, with price hovering just below the 100-day MA ($0.00001310), the 200-day MA ($0.00001338), and the triangle resistance trendline. This setup is almost identical to where API3 was positioned right before its explosive breakout.
What’s Next for SHIB?
If this fractal continues to play out, a reclaim of the 100-day and 200-day moving averages would serve as the first strong confirmation signal. From there, a decisive breakout above the descending trendline could trigger a major bullish rally, potentially driving SHIB toward $0.000025, echoing API3’s surge.
However, as with any fractal-based projection, confirmation is key. Until SHIB reclaims its moving average resistances and breaks above the pattern, the setup remains unvalidated. Traders should remain cautious of potential false breakouts, especially given the broader market’s mixed sentiment.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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