Shiba Inu (SHIB) pushed back toward $0.000006 on October 4, testing the resistance band around $0.00000591–$0.00000600 just as the token gained a new trading route on Solana. By 21:29 UTC, SHIB had recovered from a session low near $0.00000568 to roughly $0.00000594 on Binance, leaving the day's open candle about 3.30% above its opening price but still pressed against the descending line that had capped earlier rebounds.

Solana Listing Opens Another Route for Traders

The rebound coincided with a Sunrise announcement on October 4 that SHIB had been listed on Solana, a development confirmed by Solana's official account. The listing makes the Ethereum-origin token accessible through Solana applications, giving traders already active in that ecosystem an additional market in which to buy or sell it.

Sunrise describes the listed version as canonical. According to the Solana Foundation's explanation of Sunrise, a shared token address helps wallets and trading applications coordinate around a single preferred representation of an asset. Alternative versions can still exist, which is why the SHIB entry in Solana's token registry gives traders a reference for verifying which asset they are accessing.

Making that version easier to find and trade can improve access, but it does not by itself establish additional buying demand. Existing holders also gain another place to sell, and a busy market can simply reflect the same tokens changing hands repeatedly. Liquidity and activity that persist beyond the listing would offer a clearer indication of how much interest the new venue retains.

The announcement also followed pressure on meme-linked tokens reported on October 3, a segment SHIB itself belongs to. Against that backdrop of recent weakness, SHIB now has a fresh development attracting attention. Whether that attention translates into a stronger price recovery depends on how buyers handle the resistance already visible on its daily chart.

The Rebound Has Reached the Narrowing Range's Upper Edge

September's sharp advance gave way to a series of lower highs, while recent pullbacks began stopping at higher levels. Connecting those points produces a small symmetrical triangle on the chart: sellers have capped rebounds sooner, but buyers have also stepped in earlier, narrowing the space between them. Traders generally read such contracting ranges as consolidation ahead of an eventual resolution in one direction or the other.

Because the formation is short and follows a strong advance, some traders would call it a pennant. StockCharts' pattern guide notes that the pennant label is commonly used for formations lasting less than three weeks. Several wicks cross the boundaries here, however, so the lines describe a tentative consolidation pattern rather than an exact barrier on every session.

October 4 illustrated that distinction. Price briefly fell below the rising lower boundary before recovering toward the descending upper line. Buyers reversed the dip, but the daily session had not finished, leaving the strength of that recovery dependent on whether SHIB could retain the higher price into the close.

The Relative Strength Index offers some support for the rebound. At 59.66, the RSI was above the neutral midpoint of 50 and slightly above its smoothing line at 58.79, indicating positive momentum without an overbought reading. The RSI is a momentum indicator measured on a scale from 0 to 100. The narrow gap between the two lines makes the improvement modest; price still needs to escape the range.

Volume generally declined from the September advance as trading narrowed. A pickup during a break above resistance would strengthen the evidence of participation, although the latest volume bar remained incomplete. Those bars also record Binance trading, so even a larger completed bar would not quantify buying in SHIB's new Solana market or establish what caused the rebound.

Holding Above $0.000006 Would Reopen the September Highs

The descending boundary lies near the 0.236 Fibonacci retracement at $0.0000059, putting the first resistance area between that level and $0.00000600. SHIB traded slightly above the retracement but still needed to clear the wider area where its recent advances had stalled.

A daily close beyond the formation followed by sustained trading above resistance would give the move more substance. A later pullback that attracts buyers near the broken boundary would strengthen the case that the level is becoming support. Closing back inside the triangle and struggling to recover would instead suggest that the initial break had failedn
If buyers maintain the higher range, the next obstacle sits at $0.00000620–$0.00000627. The August and September advances peaked around that area, making it a visible test of whether SHIB can progress beyond its previous highs.

$0.00000550 Separates a Setback From a Deeper Support Loss

A rejection near resistance would first return attention to the triangle's rising edge, roughly $0.00000573–$0.00000575 on October 4, and the 0.382 retracement just below it. The diagonal moves higher over time, while the horizontal area around $0.00000550–$0.00000555 records repeated pullbacks that buyers have already absorbed.

The Fibonacci levels are drawn from the September low near $0.00000475 and high near $0.00000625. Retracement levels of this kind mark fixed percentages of a completed move and are commonly watched for where reactions may occur.

Beneath those first support areas, the moving averages provide context for a larger retreat. Simple moving averages smooth closing prices over their respective periods and rank among the most widely watched trend references. The 50 SMA sits near $0.00000538, above the 200 SMA at $0.00000530 and the 100 SMA at $0.00000492. SHIB's position above all three supports the broader recovery, but it leaves considerable room for a pullback before price reaches them.

Losing the small triangle would therefore weaken the immediate rebound without, on its own, undoing the entire September advance. Repeated closes below $0.00000550 would be more consequential: buyers would have surrendered an area defended during earlier declines, bringing the moving-average cluster and the longer rising trendline into focus.

A move above $0.000006 that survives a later pullback would show buyers maintaining higher prices beyond the current range. Repeated rejection would keep SHIB inside its consolidation despite the expanded trading access.

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Chart source: TradingView, SHIB/USDT on Binance, October 4, 2026, at 21:29 UTC.

This article is for informational purposes only and does not constitute investment advice. Technical levels are approximate and do not guarantee future price movements.

This article first appeared on Coindoo.