Shiba Inu Poised for 640% Rally as Bullish Patterns Emerge

Shiba Inu, a popular meme coin, is currently at the center of attention in the cryptocurrency community due to a bold prediction by a crypto analyst known by the pseudonym illagodzilla. The analyst has suggested that Shiba Inu is on the verge of a significant rally, citing technical indicators and historical patterns. The current price of Shiba Inu is around $0.00001226, and the analyst has identified a buy zone that could potentially lead to quadruple-digit gains.

The technical indicators currently suggest that Shiba Inu may be preparing for a large move. The daily chart shows that the coin has entered a phase of tight consolidation after retreating from its February highs. The Relative Strength Index (RSI) is at 49.77, indicating a neutral position but with the potential for a reversal if upward volume builds. The MACD indicator also supports this cautious optimism, with the histogram nearly flat and the MACD and signal lines converging, suggesting a decision point is near. If the bullish pattern completes, it could affirm SHIB price prediction models targeting a strong breakout.

According to illagodzilla, Shiba Inu is forming a bullish double bottom structure on the monthly chart. This pattern is considered powerful and often precedes major upside movements. The first bottom appeared in June 2023, followed by a rebound to March 2024’s high of $0.00004567. After a 73% retracement from that level, the second bottom is now in formation. This structure underpins the current SHIB price prediction. The strategic entry point, identified as $0.00000808, is the base of the W-shaped pattern. The analyst calls this level a “big bang buy” zone, providing an ideal opportunity for dollar-cost averaging and aligning with the general sentiment surrounding meme coin cycles.

If the double bottom completes, two future price targets are defined. The first is a 640% rally to $0.00008854, revisiting SHIB’s all-time high. The second is an aggressive 1,346% rise to $0.000173, setting a new record. This roadmap has gained traction among retail traders and is endorsed by other analysts. Shiba Inu is gaining nearly 2% amid broader market volatility, and analysts remain confident in the Shiba Inu rally narrative, citing strong fundamentals and upcoming project announcements. The token’s evolving use case within the Shibarium ecosystem further strengthens the bullish case for a sustainable rise in value.

Traders are monitoring SHIB price trends for confirmation of the double bottom, which would ignite bullish momentum across the board. The current Shiba Inu price action may just be the break before a huge rise. With strong technical patterns forming and a clear strategic entry point outlined, SHIB appears poised for a substantial breakout. As the crypto market eyes potential uptrends, both traders and investors should keep a close watch on this meme coin. It will be a quiet buildup today that could lead to the most talked-about Shiba Inu rally of the year tomorrow. The ongoing signals suggest it’s time to reevaluate SHIB price prediction strategies and prepare for what could be a historic run.