Shiba Inu Holds Critical Support as Analysts Eye 589% Upside Potential

Shiba Inu (SHIB) is currently trading near $0.00001328, a price level that has historically acted as a support zone since early 2022. Analysts are closely observing whether SHIB can maintain this support, as it could signal the beginning of a substantial price rally in the coming months [1]. The price range between $0.00001090 and $0.00001190 has repeatedly absorbed selling pressure over the past three years, and its successful retest may indicate a shift in investor sentiment.

Market analyst Crypto Nuclear has highlighted that SHIB’s ability to stay above $0.00001190 could trigger a move toward key resistance levels, including $0.00001580, $0.00001940, $0.00002400, and $0.00003338 [1]. Looking further ahead, the analyst has identified potential long-term price targets at $0.00007870 and $0.00008836, representing gains of approximately 514% to 589% from current levels [1]. These projections, however, depend heavily on sustained demand and broader market conditions.

Javon Marks identified a bullish divergence on SHIB’s two-day chart, projecting a potential price movement to $0.000032, which is a 156% increase from the confirmation level near $0.00001250 [1]. Jonathan Carter observed that SHIB has been consolidating between $0.00001050 and $0.00001250, describing this as an accumulation phase. He suggested that holding above this range could lead to a sustained upward move, with key resistance levels at $0.00001400, $0.00001750, $0.00002050, and $0.00002500 [1].

Another analyst, Jake Ggain, projected that SHIB could reach $0.00007636 if its market capitalization climbs to $45 billion, representing a 516% gain from current levels and a 660% gain from June’s low of $0.00001004 [1]. Hunters Company also maintained a bullish stance, emphasizing SHIB’s resilience at key support levels [1].

While the current price structure suggests potential for a bullish breakout, analysts also caution about the risks of a downward move. A decisive drop below $0.00001090 could signal weakening momentum, potentially leading to declines toward $0.00000900, $0.00000700, or even $0.00000550 [1]. Crypto Nuclear also noted that the current pattern resembles a Wyckoff-style spring—a setup that can precede a strong rally but is not guaranteed. If the recovery from the support level fails, the risk of extended losses increases.

The broader consensus among analysts is that SHIB’s position in this critical demand zone will play a decisive role in determining its next major price movement. A strong defense of support could open the path to multi-hundred-percent gains, while a breakdown may result in extended weakness [1].

Source: [1] Times - [https://timestabloid.com/shiba-inu-on-the-cusp-can-shib-unlock-a-589-surge/](https://timestabloid.com/shiba-inu-on-the-cusp-can-shib-unlock-a-589-surge/)