SHIB Bull Flag Emerges as Meme Coin Market Grows 30% in July

SHIB is drawing renewed attention after a prominent bull flag pattern emerged on its weekly chart, signaling the potential for a significant price rally, according to crypto analyst Mark.eth. This pattern, observed since January 27, has been marked by a 7-month consolidation phase with forming lower highs and lows. SHIB recently reached a peak of $0.00001597 before retreating to $0.00001305, a move that has tested the pattern’s resistance line twice—most recently on May 12 and last week [1].

The emergence of the bull flag has sparked optimism among meme coin enthusiasts, as SHIB represents over 10% of the entire meme coin market cap. Analysts argue that a successful breakout could not only boost SHIB but also rekindle broader interest in the meme coin sector, which has seen a 30% surge in market cap in July, rising from $55 billion to nearly $83.5 billion [1].

Further bullish signals include the token’s on-chain activity, with SHIB’s burn rate surging by 6,500% in 24 hours, a development that has reinforced positive sentiment. Analysts like Shib Spain predict a potential rebound from the $0.000012 support level, with targets as high as $0.0001—implying a 666% increase from current levels. Others cite a double bottom formation and a 3-year symmetrical triangle pattern as justification for projections reaching $0.00017 [1].

The broader meme coin market has also seen the rise of new projects like Little Pepe (LILPEPE), which completed its Stage 7 presale and has raised over $13.7 million in funding. While SHIB remains the most influential token in the sector, its ability to attract retail attention and drive community engagement is considered a key factor in its potential for a large-scale rally [1].

Despite the bullish forecasts, SHIB has experienced short-term volatility, with a 7.5% decline in the past 24 hours to $0.00001364. However, many analysts view this as a consolidation phase ahead of a larger breakout, especially if the token manages to break through its flag pattern resistance.

SHIB’s price action has drawn comparisons to its 2021 behavior, a period marked by strong community support and rapid price appreciation. A similar reenactment is now being closely watched by investors as the token continues to evolve within the Shibarium ecosystem [3]. The recent governance decision to prioritize SHIB burns over BONE has also strengthened the token’s narrative, further supporting its long-term value proposition [10].

While the $10 price target for SHIB remains highly ambitious and speculative, it reflects the growing optimism among investors and analysts. Whether SHIB can deliver on these expectations will largely depend on its ability to maintain momentum in a sector that remains heavily driven by sentiment and social dynamics.

Sources:

[1] Shiba Inu (SHIB) Flashes Bull Flag: Analyst Predicts Massive Rally and Meme Coin Surge. (2025, June 29). Coinedition. https://coinedition.com/major-shib-price-rally-predicttion-from-multiple-analysts/

[3] SHIB chart pattern rhyming with 2021, while RTX is showing mega bullish signs. (2025, July 29). Invezz. https://invezz.com/news/2025/07/29/shib-chart-pattern-rhyming-with-2021-while-rtx-is-showing-mega-bullish-signs/

[10] Shiba Inu Price Prediction: SHIB Lead Dev Shytoshi Kusama Backs Burn Vote – SHIB to $10? (2025, July 28). Cryptonews. https://cryptonews.com/tags/price-prediction/