Traders have identified a bull flag pattern on the Shiba Inu (SHIB) price chart, raising the possibility that the meme cryptocurrency could remove a zero from its price in the coming days.
A bull flag typically forms after a sharp upward move, followed by a period of downward-sloping consolidation. Traders often view the pattern as a potential continuation setup, particularly when the price breaks above the flag’s upper boundary on strong volume.
“$SHIB is making Bull Flag,” said crypto trader $SHIB Knight. “Good chance to delete a zero in the coming days.”
$SHIB is making Bull Flag. Good chance to delete a zero in the coming days.
— $SHIB KNIGHT (@army_shiba), September 1, 2026
In cryptocurrency market terminology, “deleting a zero” means removing one zero after the decimal point. For Shiba Inu, that would potentially mean reaching $0.00001.
At the time of writing, SHIB was trading at $0.000005162, up 3.35% over the previous 24 hours but down 4.25% over the past week.
The broader market is consolidating after a short squeeze drove cryptocurrency prices higher over the past week. However, the pause has not significantly weakened crypto’s relative strength, with most digital assets trading in positive territory over the last 24 hours.
Crypto market open interest remained stable near $137.42 billion, while trading volume fell by nearly 14%. The data suggests traders are adding neither significant long nor short positions and are waiting for a clearer directional signal.
Can Shiba Inu Reach $0.00001?
Shiba Inu recovered from a three-day decline that took the price to a low of $0.00000488 on August 30, marking its second consecutive day of gains. The rebound had pushed SHIB to an intraday high of $0.00000523 at press time, with the price now approaching the daily 200-day moving average at $0.00000537.
A break above the daily 200-day moving average could put $0.00000553 and $0.00000575 in focus, followed by $0.00000623. A decisive move above those levels could open the way toward $0.00001017, potentially removing a zero from Shiba Inu’s price.
A potentially bullish market signal has also emerged as the Korean premium turns positive, suggesting that Korean investors may be returning to the cryptocurrency market.
According to CryptoQuant, the Korea premium had remained negative for the longest period in its history before recently beginning to turn positive. The shift indicates that investors in the Korean market are starting to show increased interest in cryptocurrencies.
