Massive Shiba Inu Expansion to New ATH Imminent as Consolidation Nears End

An analyst has identified a recurring pattern of expansion after a period of consolidation on the Shiba Inu chart, suggesting it might see a repeat.

History does not repeat itself, but it often rhymes; this principle might apply to Shiba Inu, an analyst has insinuated. Specifically, Kamran Asghar highlighted a recurring pattern of price accumulation and parabolic expansion on the meme coin’s weekly chart, suggesting that things will align as they have in the past.

Consolidation Phase Nearing End?

For context, this pattern has seen the price of Shiba Inu consolidate within a rectangular range for months, then explode after sustaining a breakout. The rhythm has occurred twice since 2021, and the commentator projects that Shiba Inu will follow that trend this time.

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An accompanying chart highlights the specific periods during which this happened. It shows that SHIB entered an accumulation phase in May 2021, when it dropped to $0.00000630, and remained within this range until a breakout in late September 2021.

SHIB soared 1,154% to its all-time high of $0.000088554 in five weeks, illustrating how quickly its value can escalate when it gains momentum. Meanwhile, after the high, Shiba Inu retraced massively to enter another consolidation phase, starting from May 2022.

The accumulation spanned a much longer period this time, lasting until February 2024. Then, Shiba Inu surged to a high of $0.00004563 in March 2024, with Asghar’s chart indicating that this resulted in 501% increase.

Shiba Inu Could Reach New ATH After Breakout

Meanwhile, Shiba Inu entered another accumulation phase in late January, following its dip to $0.00001471, and has since trended within the range. However, Asghar suggested that the phase could be winding down.

If it breaks out and history rhymes, then Shiba Inu could go parabolic from here. The analyst stated that the meme coin appears poised for a massive expansion, targeting greater heights.

Moreover, his chart highlights that the rally could take the prominent meme coin to a new all-time high. He marked the target around $0.0000900, representing an approximately 619% upsurge from the current market price of $0.0000251 and an unprecedented level for Shiba Inu.

Notably, an earlier The Crypto Basic report aligns with this $0.000090 target. The analysis utilized Changelly to project when Shiba Inu could reach the target, and according to the report, this could occur in late 2028.