- Shiba Inu closed three consecutive green weeks, trading at $0.0000140.
- Analyst Master Ananda predicts targets of $0.000139 (894% rise) and $0.000220 (1,479% rise).
- CryptoELlTES highlights SHIB’s narrowing triangle since 2021, forecasting a breakout toward $0.00023.
The Shiba Inu price has closed three straight green weeks, bringing fresh optimism to the market. After a lengthy consolidation phase, the meme coin is showing signs that it might be ready for a major breakout. This momentum suggests that its 400% surge earlier in 2024 might only be a hint of what lies ahead.
Currently, Shiba Inu is trading at $0.0000140, having recovered from its August 2024 lows. This recovery offers a glimpse of something much larger in the making, especially as the majority of SHIB holders remain underwater, according to data gathered by IntoTheBlock. A breakout from here could be transformative for investors who have held firm.
A prominent crypto analyst, Master Ananda, has highlighted key patterns in Shiba Inu’s price chart. He noted that Shiba Inu has secured its third weekly green close while flashing persistent signals of future growth. Following the recent gains, the token appears set to challenge its long-term resistance with considerable strength.
Analyst Predicts Two Shiba Inu Targets
Master Ananda laid out two possible targets for SHIB’s price action should the bullish momentum continue. He sees the first major goal at $0.000139, an increase of 894% from the current price. This figure also sits 73% higher than Shiba Inu’s previous peak of $0.00008, suggesting impressive potential gains.
Taking a more optimistic view, the analyst also pointed out a higher target of $0.000220. Reaching this level would represent a 1,479% increase and a 175% rise above the coin’s current all-time high.
However, Master Ananda believes it’s still too early to make bold predictions, but the market is showing promising signs. “The more it grows, the better it gets,” he said. According to his analysis, the market could rise higher than expected, with continued positive movement if current trends hold.
Adding more fuel to the bullish outlook, CryptoELlTES recently shared a chart showing SHIB moving within a narrowing symmetrical triangle, a classic technical setup known for producing sharp breakouts when the price compresses long enough.
Multi-Year Triangle Nears a Critical Point
The triangle pattern traces back to October 2021, when Shiba Inu reached its all-time high of $0.00008616. Since then, the price has repeatedly rebounded off the triangle’s lower trendline, strengthening its bullish structure. Each rebound has maintained the pattern’s shape, even as lower highs formed along a downward-sloping resistance line.
Recently, Shiba Inu’s price rebounded again off the lower trendline, hinting that its next major move could be toward the triangle’s apex. If SHIB successfully breaks through the upper boundary of the triangle, CryptoELlTES forecasts a potential rally to $0.00023.
Overall, the technical signals and expert analyses suggest that Shiba Inu may be gearing up for one of its most significant rallies yet. Investors and traders alike are closely watching to see if the meme coin can turn this positive momentum into a historic breakout.
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