Shiba Inu Price Is Ready For 512% Bullish Breakout, Here’s Why

Shiba Inu price may be preparing for a major surge, with some analysts predicting a potential breakout of over 512%. This comes after the coin has shown consistent patterns, with analysts suggesting that a massive rally could soon be underway.

Shiba Inu Price Hints At Over 500% Rally

Shiba Inu price has been consolidating, which some experts believe is the final phase before a possible upward movement. According to market analyst Javon Marks, SHIB displays a large Inverse Head and Shoulders formation, which is often associated with bullish price movements. At press time, the SHIB price was trading at $0.0000131172729, a 6% surge from the support level.

The SHIB price could surge toward the breakout target of $0.000081, representing a gain of more than 512% from its current level of around $0.00001252.

This chart pattern has been historically reliable in predicting upward price trends in various cryptocurrencies. It suggests that a sharp rally could follow after the final shoulder completes, bringing SHIB to new highs.

Historical Price Movements Support Potential Surge

Analyzing SHIB’s past price fluctuations offers more evidence to support its potential for a significant uptick. In 2021, Shiba Inu surged more than 1,000% from $0.000005 to $0.00008026 in a matter of weeks. According to MMB Trader, this sharp move was followed by a consolidation period during which SHIB price demonstrated a remarkable ability to rebound around key support areas.

Another similar event happened in the year 2024, SHIB surged by nearly 400% within a short period. However, after this rally, the coin reversed and is trying to stabilize on these support levels again, indicating another price rise.

From the chart, the consolidation of SHIB above the support level of $0.00001 is an indication that the meme token is preparing for a surge to the upside. If the Shiba Inu price breaks through the current resistance levels, such as $0.00002562, a 200% increase in price is possible, and further gains could follow.

Increased Long-Term Holders Reflect Confidence in SHIB

Data from IntoTheBlock shows a rise in long-term holders of Shiba Inu, which may further support the case for a bullish breakout predicted by Coingape earlier today. The number of SHIB holders who have maintained their positions for over a year has increased by more than 2%.

This shift in investor behavior suggests that many see long-term potential in cryptocurrency and are willing to wait for the price to rise.

In contrast, short-term traders have decreased by almost 17%, indicating a move away from speculative trading toward a more patient, long-term holding strategy. This may help stabilize the price as the market prepares for potential upward momentum. As long-term holders continue to hold their positions, they could act as a strong support base if a rally begins.

Resistance at $0.000014 May Present Key Challenge

Despite the SHIB price displaying several technical indicators that point toward an upside, many hurdles remain. Based on IntoTheBlock data, many SHIB tokens have piled up near key levels of $0.000014.

At this price range, there are over 49k addresses holding over 22,743 trillion in SHIB. Should the token price reach such a level, holders who acquired SHIB tokens at these levels and above may want to sell.

This can be quite negative to Shiba Inu price since a significant amount of buying pressure is required for the price to breakout and get past this level. So long as the buyers can stem the selling pressure from these holders, SHIB will likely head for the higher targets. If it does not go out of the channel and break the $0.000014, the price will most likely return to the middle of the channel area and try to rally again.

✓ Share:

Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.