- Breakout: SHIB exits accumulation, showing bullish momentum and potential for a 200% upside.
- Support Levels: Key zones around $0.000009-$0.000010 are crucial for sustaining upward momentum.
- Market Structure: Rising dominance and liquidity suggest a strong recovery and extended rally potential.
Shiba Inu has finally broken out of a long consolidation phase, catching the eyes of traders and analysts. Technical charts suggest a possible 200% upside if momentum holds above critical support levels. Analysts say the breakout could mark the start of a new bullish cycle. With a combination of stable network activity and growing buying pressure, SHIB might be positioning for one of its most significant moves this year.
Analysts Spot Strong Bullish Patterns
Analyst Javon Marks highlighted a bullish divergence pattern in Shiba Inu’s charts, historically signaling large rallies. He projects a potential 200% gain, targeting the $0.000032 resistance zone. Marks noted that SHIB has formed a structure similar to previous accumulation periods. Past breakouts often led to major percentage gains in 2021 and 2023.
The breakout shows buyers gaining control over sellers, according to Marks. Maintaining the $0.000009 support level is crucial for preserving upward momentum. Closing consistently above $0.000010 could trigger a push toward higher resistance. Volume growth will play a critical role in sustaining the rally. Analysts believe SHIB could extend gains as long as support holds.
Reduced token burn rates have not affected SHIB’s stability. Over the past 24 hours, 919,747 tokens burned represent a 78% drop from the previous day. Weekly burn data shows 32.2 million tokens, a 47% decrease. Despite the slowdown, the price holds around $0.0000096. Market capitalization remains strong at about $5.69 billion, signaling ongoing investor confidence.
Market Structure Points to Early Recovery
On-chain charts show Shiba Inu’s market dominance recovering from 0.11% to 0.17%. The pattern resembles a falling wedge, often leading to bullish reversals. Analysts interpret the breakout as the beginning of a longer-term recovery. Rising dominance aligns with accumulation patterns across the memecoin sector. Analysts view increasing liquidity and positive investor sentiment as supporting a recovery.
A dominance above 0.25% could confirm an extended upward trend. Historical data indicates that similar patterns preceded SHIB’s strongest rallies. Capital rotation from sidelined liquidity back into trending tokens strengthens the recovery thesis. As long as SHIB holds above current support levels, analysts see room for an extended move. The $0.000032 resistance remains the key target if momentum continues. Traders and investors will likely watch volume and burn data for confirmation of the trend.
SHIB’s breakout signals a potential shift in market control. Strong support and growing dominance hint at a solid bullish setup. Analysts forecast the possibility of a 200% upside if momentum holds. Investors watching the memecoin should monitor key levels and volume for signs of a sustained rally.
