Shiba Inu Price Prediction: Will Uptober Ignite SHIB Breakout?

Following several weeks of sideways trading and repeated support tests, Shiba Inu (SHIB) is beginning to show signs of renewed strength. A descending trendline that has held the price steady since mid-summer remains a key feature on the daily chart.

The steadily declining exchange reserves for SHIB indicate reduced sell pressure, as fewer tokens remain on exchanges. This pattern suggests that some investors may be positioning themselves ahead of a potential breakout, particularly given the concurrent uptick in transaction activity.

SHIB has successfully reclaimed its 50-day EMA on the daily chart — historically a pivotal level signaling potential momentum shifts — and is currently trading near $0.0000126.

Shibarium attack

Recently, Shibarium, Shiba Inu’s Layer-2 blockchain, faced one of the largest attacks in its history. The attacker attempted to exploit the network by manipulating checkpoints, reportedly staking 4.6 million BONE tokens to gain leverage.

The exploit was triggered on September 12, when a hacker submitted fake data to Shibarium’s Ethereum-linked contracts, prompting an automatic system shutdown as a safety measure. Simultaneously, the attacker staked millions of dollars’ worth of BONE tokens to temporarily meet validator thresholds.

In total, the hacker drained about $4.1 million in ETH, SHIB, and 15 other tokens from the bridge before moving the stolen assets.

In response, Shibarium has announced the implementation of blacklisting mechanisms on its Plasma Bridge to prevent similar exploits. The team also plans to gradually restart paused bridges, prioritizing safety and user asset recovery.

Following the attack, SHIB’s price dropped 13% within 24 hours.

Uptober bull run

Despite the setback, Shiba Inu has started October with a bullish setup that could push prices toward $0.00001410. If achieved, this move would align with historical price patterns, marking a potential 11%–40% rally.

Historically, SHIB has performed strongly in October:

• 2021: +833% surge, pushing SHIB into the global top 10.
• 2023: +6.04% gain.
• 2024: +2.46% rise despite a stagnant market.

Shiba Inu price prediction

SHIB currently faces resistance between $0.000012–$0.000013, where the 200-day and 50-day EMAs have converged, creating a strong ceiling. 

The RSI remains in a neutral range, while the recent uptick in reserves slightly dampens the odds of a sustained breakout.

• Immediate support: $0.00001200 (maintains September’s range of $0.00001170–$0.00001220).
• Resistance levels: $0.000013–$0.000014 (a breakout could push SHIB to highs unseen since July).
• Next major resistance: $0.000015–$0.000018, representing a potential 20%–40% upside from current levels.

For SHIB to confirm a successful breakout, it must decisively clear the $0.0000128–$0.0000130 range. Failure to reclaim these levels leaves the asset vulnerable to renewed downward pressure.