Shiba Inu price is showing signs of a potential major surge, with analysts predicting a breakout of over 512%. The coin has been consolidating, indicating an upcoming upward movement. Market analyst Javon Marks highlights a large Inverse Head and Shoulders formation in SHIB, which is typically bullish. The current SHIB price is at $0.0000131172729, up 6% from the support level, with a potential breakout target of $0.000081, representing a gain of over 512%.
Analyzing SHIB’s historical price movements further supports the potential for a significant uptick. In 2021, Shiba Inu saw a surge of over 1,000% within weeks, followed by a consolidation period where the price rebounded around key support levels. A similar event occurred in 2024, with SHIB surging by nearly 400%, followed by attempts to stabilize on these support levels, indicating another potential price rise. The consolidation above the support level of $0.00001 suggests SHIB is gearing up for an upward surge.
Data from IntoTheBlock shows an increase in long-term holders of Shiba Inu, indicating growing confidence in the coin. Long-term holders have risen by over 2%, while short-term traders have decreased by almost 17%, signaling a shift towards a more patient, long-term holding strategy. This increase in long-term holders could provide strong support if a rally occurs, stabilizing the price in anticipation of potential upward momentum.
Despite the positive indicators pointing towards a potential upside in SHIB price, there are still challenges ahead. Resistance at $0.000014 poses a key obstacle, with a significant number of SHIB tokens held at this level. If the price reaches this level, holders may be inclined to sell, potentially creating selling pressure that could impede a breakout. Overcoming this resistance level will require a substantial amount of buying pressure for SHIB to move higher. Failure to break through this level could result in the price returning to the middle of the channel area before attempting another rally.
In conclusion, Shiba Inu price is showing strong potential for a significant surge, with historical patterns and increasing long-term holders supporting the case for a bullish breakout. While there are resistance levels to overcome, the current consolidation phase and positive technical indicators suggest that SHIB could be gearing up for a substantial upward movement. Investors should monitor key support and resistance levels to gauge the strength of any potential rally and make informed decisions based on market conditions.
