Analyst Warns Shiba Inu Market “Dead” Despite Outlining 600% Rally Potential

• MMBTtrader characterizes Shiba Inu market as “dead” with risk of falling from top 40
• Token maintains two key daily supports that could enable breakout above trendline
• Long-term targets range from 200% to 600% gains if resistance levels break

Pseudonymous analyst MMBTtrader has described Shiba Inu’s current market conditions as “dead” and frustrating for investors, warning that continued weakness could push SHIB out of the top 40 cryptocurrencies by market capitalization.

Despite this harsh assessment, the analyst identified technical factors that could potentially reverse the meme token’s fortunes.

The analyst noted that SHIB continues holding two crucial daily support levels, which could provide the foundation for a strong breakout if the token breaches a red descending trendline. This technical setup creates conflicting signals between bearish sentiment and potential bullish catalysts.

Multiple SHIB Price Targets Depend on Resistance Breaks

MMBTtrader outlined a long-term upside target exceeding 600% if Shiba Inu clears key resistance levels. This projection uses SHIB’s historical peak as a reference point, though such gains would require substantial market shifts and sustained buying pressure.

A more immediate 200% target sits near $0.00003364, a level that has proven problematic for SHIB bulls. The token reached this zone in March 2024 and again in December 2024, but sellers overwhelmed buyers on both occasions, creating strong pullbacks that reinforced this level as resistance.

This repeated rejection has established $0.00003364 as a critical threshold that must be overcome before higher targets become accessible. Until SHIB breaks above this barrier, upside progress remains constrained, with the 400% and 600% levels dependent on clearing this established resistance.

The analyst identified two major support zones at $0.000006 and $0.000010 that have previously marked turning points for upward rallies. These levels could provide crucial foundations if market conditions deteriorate further.

A clear break above the $0.00003364 resistance would open the path toward a 400% rally, representing levels last achieved in November 2021. However, maintaining support levels while overcoming resistance would require substantial coordination of buying interest.

The technical analysis presents a scenario where SHIB faces both substantial downside risks and potential explosive upside, though the current “dead” market conditions suggest limited immediate catalysts for positive price action.

The analyst’s warning about falling from top 40 rankings indicates that fundamental factors may not support the optimistic technical targets without major changes in market dynamics or project developments.