Shiba Inu Drops 7.983% Amid Bullish Patterns, Analysts Eye 500% Surge

Shina Inu's latest price was $0.06, down 7.983% in the last 24 hours. Crypto analyst Floratap identified an intriguing divergence pattern that could potentially catalyze a 500% price surge for SHIB, marking one of the most notable comebacks in its trading history. This pattern suggests that surpassing the $0.000017 mark could stimulate a bullish trend, propelling SHIB towards $0.0000263, with bulls ultimately aiming for as high as $0.000081. The divergence between SHIB’s flat price trajectory and increasing momentum indicators has injected optimism into the market, with key indicators like the relative strength index (RSI) and trading volumes hinting at a quiet accumulation stage often seen before significant crypto market rallies.

Market analyst Lingrid highlights SHIB’s stability above a crucial support level, showcasing strong buyer resilience. This buttresses the short-term bullish outlook for SHIB by deterring further declines. Lingrid pointed out that price movement suggests that bulls are poised to push prices higher as long as the support level is maintained. A breakout above the resistance zone could target the $0.00001350–$0.00001400 area. Such analysis hints that Shiba Inu may be moving from a correction phase to accumulation, with the break from its descending channel indicating strength and the ongoing consolidation potentially setting the stage for a rally.

On September 1, crypto analyst Javon Marks shared a bullish outlook for Shiba Inu, explaining that SHIB confirms a bullish pattern in a regular bull divergence with the MACD Histogram. This suggests a major bullish reversal back to the upside, which can consist of an over 163% move back into the $0.00003s, and that may only be the start. He went even further, noting that if the breakout structure holds, the move could extend into a massive 570% run toward $0.000081, a level close to its previous breakout target. For now, Shiba Inu’s price continues to consolidate above the key $0.000012 demand zone, a level it has defended since mid-August. Whale wallets have been quietly accumulating during this period, hinting at confidence from larger holders. Still, the on-chain picture isn’t entirely bullish, since August 17, the exchange net position change has been negative, meaning more SHIB is flowing off exchanges than onto them. While this sometimes signals investor caution or profit-taking, it can also reduce available supply, adding another layer of complexity to SHIB’s current setup.

The $0.000012 zone is a key area of interest with a large portion of SHIB holdings accumulated around this price in recent months. That makes it a key demand zone, and bulls will need to hold the line here if they want to fuel a rally in the weeks ahead. Right now, price action has tightened into a narrow consolidation channel between $0.000012 and $0.000014. But there’s a catch: if SHIB loses its footing at $0.000012, analysts caution that it could drop as much as 15%, sliding back down toward its range lows near $0.0000106.

According to data from Shibburn, the project’s maximum supply is capped at 999,982,338,927,672 SHIB, with the current supply sitting at about 589.2 trillion SHIB. Out of this, more than 4.55 trillion SHIB are staked as xSHIB. On the flip side, the burn rate has slowed sharply, dropping by 97.15% over the past 24 hours, with only 69,808 SHIB burned. Despite the dip, SHIB has been part of the market recovery, fueled by rising expectations that the Federal Reserve could finally announce rate cuts at its September 17 meeting. A move like that would lower borrowing costs, improve liquidity, and generally boost appetite for risk assets, from stocks to cryptocurrencies. And in that kind of environment, speculative tokens like SHIB often stand to benefit the most.

Shiba Inu formed a daily death cross as the 50-day moving average crossed beneath the 200-day MA, signaling weakened momentum and renewed downside risk for SHIB. Traders view this technical crossover as bearish until price decisively breaks above the long-term moving average near $0.000014. Analysts are betting heavily on that upside. Market watcher Javon Marks has voiced optimism, while others have gone as far as projecting a 17x surge. Running the math, that would mean a jump from around $0.000012 to $0.000023, a staggering 1,749% rally.