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The biggest meme coin on Ethereum, Shiba Inu (SHIB), is starting December with a price pattern that refuses to match the exhausted narrative many attached to the meme coin over the past few months because, after shedding liquidity and sentiment for weeks, it suddenly posted an 11% gain across 10 days, as per TradingView, and built a floor that looks stronger than ever this year.
What makes this move more noticeable is the market backdrop, where the Fear and Greed Index still sits deep in fear territory at 22 after printing extreme fear at 16 yesterday and 15 last week. So, it is fair to say that SHIB pushing higher inside that environment tells you the asset is moving on chart mechanics rather than collective mood.
The daily chart shows SHIB climbing back to $0.00000899, punching through minor intraday resistance and closing with enough conviction to make even the most skeptical stare again at levels they dismissed as irrelevant just two weeks ago.
The setup forming on the chart is not textbook, but it is the kind of structure that often appears on assets that spent too long drifting under their own moving averages. This pattern sits right under the 23-day SMA at $0.00000863 and the 50-day SMA at $0.00000934, which are starting to converge into a zone that can either reject or propel SHIB depending on how strong the next impulse comes in.
Zero out for SHIB
The ultimate target for the SHIB recovery is the 200-day moving average at $0.00001175 right now. Reaching that will not only add 30% to the price of the Shiba Inu coin but delete a whole zero in its figure.
SHIB does not need a full-blown breakout to touch it, but only needs the current rebound to hold without collapsing back into the lower $0.0000080s. If buyers keep the structure onside, the move to that 200-day curve becomes less of a fantasy and more of a mechanical outcome of the range itself.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team