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Shiba Inu (SHIB) has gone down by 18.2% in the past month despite the rally that most cryptocurrencies have experienced lately.
The token has failed to capitalize on what some deem as the beginning of altcoin season, as meme coins have remained suspiciously silent during this bull cycle.
The Shiba Inu blockchain is undergoing some big changes in terms of governance as its top developer recently proposed the election of a President for the Shiba Inu ecosystem who will oversee its growth.
This individual will be elected by token holders following a decentralized and transparent three-stage process.
This is an interesting new chapter in the Shiba Inu’s history. The project has stood out from other meme coins by its strong ecosystem development initiatives. These include the launch of a decentralized exchange (DEX), a staking platform, several blockchain-based games, and official non-fungible tokens (NFTs).
Why do I feel like $SHIB is going for a reversal upwards?
Dang. I don’t usually lose any trades and this chart is calling for something.
— Crypto King👑💎.eth.sol (@cryptosanthoshK) August 16, 2025
Trader Crypto King, whose account on X is followed by more than 134,000 users, believes that SHIB’s recent consolidation indicates that the token is getting ready for a big bullish breakout that could push it to $0.000034 as this bull market continues to unfold.
SHIB Could Bounce Strongly Off $0.00001200 as Bearish Momentum Loses Steam
In the past 24 hours, SHIB has gone down by 1.3% and trading volumes have retreated. These are both signs that the latest downturn could be losing steam.
This is consistent with SHIB’s price action as the token is approaching a key level at $0.000012. We could see volumes picking up their pace once the token hits that mark, as this has been a highly contested area in the past.
SHIB has been on a downtrend lately as it has made two consecutive lower highs. This has formed an upper trend line resistance that is now the key area to watch if SHIB bounces off the $0.000012 level.
If SHIB breaks above $0.0000127, we could see it moving to around $0.000015 in the near term and possibly to $0.000020 if bullish momentum continues to gain traction.
Meanwhile, if we get a bearish breakout below this relevant support, SHIB could continue to drop toward the $0.00001050 area, meaning a 12.5% downside potential.
Sadly, no asset management firm has submitted an application to list a Shiba Inu spot ETF. If that happens, this could be the catalyst that the token needs to rise to these levels and possibly beyond, toward Crypto King’s ambitious target of $0.000034.
Well-established meme coins seem to have taken the back seat during this rally while the best crypto presales are outperforming them by raising millions in just a few days. Maxi Doge (MAXI) stands out as this token has attracted over $1 million from investors already after a couple of weeks of its launch.
Maxi Doge (MAXI) Will Make the Most Of This Bull Market With Targeted Leveraged Trades
Maxi Doge (MAXI) is a dog-themed ERC-20 meme coin that was launched just a couple of weeks ago to capitalize on the beginning of altcoin season and Ethereum’s recent push above $4,000.
This character is a Shiba Inu dog on steroids that only sees a way out of mom’s basement – taking leveraged positions on its favorite tokens in what it sees as an ‘up only’ market.
Through the Maxi Fund, up to 25% of the proceeds raised during the presale stage will be used to open targeted trades in the most promising tokens out there with up to 1000X leverage to boost returns.
$MAXI holders will benefit from these returns and from the project’s attractive staking rewards of 240%.
To buy $MAXI and join the pump, head to the Maxi Doge website and connect your wallet. You can either swap USDT or ETH for this token or use a bank card to invest.