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Shiba Inu is forming a potential bullish reversal pattern known as the inverse head and shoulders on the macro timeframe, according to crypto analyst Javon Marks. The pattern has been developing since the second half of 2022, with the left shoulder forming between July and December 2022, followed by the head in late 2023 during the bear market low. The token is now in the process of forming the right shoulder, and a successful breakout would depend on strong volume and a bounce from a key support level to confirm the structure [1].
If the pattern completes, it could signal the end of a prolonged downtrend and the start of a major price rally. Based on the formation, Marks predicted a price target of $0.000081, representing a 540% increase from the current price of $0.00001263. This level would bring
close to its all-time high of $0.00008616, which has stood for nearly four years. Marks noted that the move might even extend beyond the target price, potentially creating new all-time highs for the token [1].At the time of analysis,
Inu had declined by 6.2% from its 24-hour high of $0.00001347, reflecting ongoing market volatility. While the token has shown signs of consolidation, the long-term formation suggests a potential for a sharp upward movement if the pattern completes successfully. It is important to note that Marks' prediction does not specify a timeframe for the breakout, as such a move would depend on on-chain conditions and broader market sentiment [1].Technical analysts often use the inverse head and shoulders pattern to predict major market reversals. If
were to break out of its current consolidation and rally toward the projected target, it would represent one of the most significant price moves in the token's history. Investors are advised to closely monitor volume levels and key support/resistance areas for further confirmation of the pattern's validity [1].Source: [1] Shiba Inu Head And Shoulders Pattern Signals 540% Upshoot To New All-Time Highs (https://www.newsbtc.com/shiba-inu/shiba-inu-in-key-pattern/)

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