Shiba Inu Forming Dual Bullish Patterns Signals Potential 70% Price Surge

Shiba Inu (SHIB) is currently exhibiting robust bullish signals, with traders and analysts noting the formation of two key technical patterns that suggest a significant price breakout could be on the horizon. These include a confirmed double bottom pattern and a developing cup-and-handle pattern, which together reinforce the likelihood of upward momentum [1].

Renowned market analyst Tom Tucker highlighted that the current pullback in SHIB’s price is forming the "handle" of the cup-and-handle pattern, a common precursor to a breakout. He emphasized that rising whale accumulation further strengthens the setup, projecting a potential 70% price increase from current levels. According to Tucker, this could push SHIB’s value to $0.00002, a key psychological level that would mark a substantial recovery from its current price of $0.000012 [1].

Concurring with this outlook, market analyst DavidTheBuilder noted that SHIB is moving through a falling wedge pattern, another bullish formation. He suggested that a breakout above $0.0000146—and more significantly, $0.0000158—could trigger rapid upward movement, reinvigorating bullish sentiment [2].

In addition to these technical developments, the Shiba Inu network has introduced a quantum-resistant identity protocol to enhance security within its ecosystem. The new Shib Identity system utilizes Fully Homomorphic Encryption (FHE), which allows for secure data computations without exposing sensitive information. This advancement not only bolsters privacy but also future-proofs the network against emerging cryptographic threats [1].

The combination of strong on-chain activity and strategic technical formations has led to growing optimism about SHIB’s short-to-medium-term prospects. Analysts remain cautious but suggest that the market conditions align with a favorable setup for a potential price surge.

Sources:

[1] https://zycrypto.com/shiba-inu-whale-accumulation-plus-dual-bullish-patterns-project-70-rocket-for-shib-price/