SHIB has recently been experiencing an interesting shift. From the weekly chart, after a 45% surge, it has entered a consolidation phase, with volatility continuously narrowing. This usually indicates that a major move is imminent—either a breakout upward or a breakdown downward.

On the technical side, there are two perspectives. Bullish investors are watching the support line at 0.00000807, believing that as long as it holds, there’s a chance to push toward 0.00001. However, some skeptics point out that the Meme coin track is now highly competitive. Newcomers like PEPE and FLOKI are eyeing the market, aiming to steal attention away from SHIB.

This is the norm for Meme coins—yesterday’s leader might be surpassed by a new dark horse today. Market attention is limited, and whenever a new coin gains popularity, older coins have to cede some of their heat. Whether SHIB can hold its ground depends largely on the direction it chooses after this consolidation.