Shiba Inu (SHIB) Gains 30% in 30 Days, Analysts Predict Bullish Breakout

Shiba Inu (SHIB) has been a topic of interest in the cryptocurrency community, with various analysts and community members sharing their insights and predictions about the token's future. Heber Mayen, a popular community member, suggested that SHIB is preparing for an explosive breakout. He highlighted that Shiba Inu’s one-month price chart showed a gain over the past 30 days. The asset has been consolidating within a descending triangle pattern, which has historically signaled major price movements once the pattern reaches its end. Mayen expressed confidence in a bullish breakout, supported by strong momentum indicators.

Community analyst Shib Spain echoed a bullish stance, suggesting that Shiba Inu is consolidating within a specific support range. He anticipates a rebound from this level, which could provide the base for a strong uptrend. If sustained, this momentum might help Shiba Inu challenge previous price barriers. While Mayen refrained from setting a specific price target or timeline, Shib Spain went further in his outlook, suggesting that Shiba Inu would need to surge significantly to surpass its October 2021 peak. Such a move would mark a significant recovery and reaffirm SHIB’s potential as a high-volatility meme token capable of rapid rallies under favorable market conditions.

The daily SHIB chart shows that price action has entered a period of consolidation after a recent upward move. Price candles reveal that SHIB has been fluctuating between approximately specific levels over the last sessions, repeatedly failing to break above a certain resistance. The MACD is showing a bullish signal, as the blue MACD line has crossed above the orange signal line, supported by rising green histogram bars that reflect strengthening upward momentum. This suggests that buyers are regaining control and could push the price higher in the short term. The RSI is at a level that means SHIB is neither overbought nor oversold, reinforcing the picture of a consolidating market.

Shiba Inu (SHIB) is showing clear momentum as the token trades within a narrow channel and tests resistance levels. Technical patterns and recent price action indicate that SHIB is preparing for an upward move, with projections pointing to higher targets. SHIB is gearing up for a big move. SHIB’s daily chart recorded a descending trendline acting as resistance while the token consolidated within a defined support zone. According to analysis prepared by Shib Spain, this support range extended between specific levels, holding firm through several retests across recent sessions. Price traded near a specific level after another test of the descending resistance line. Repeated rallies carried SHIB to the resistance zone, though pullbacks kept it inside the consolidation structure. Each rejection from the trendline maintained the setup while buyers accumulated near support levels. A projected move showed potential continuation beyond a specific level, extending toward another level once the resistance breaks. Market data showed consistent rebounds after dips, confirming liquidity and strong trading interest at these levels.

Volume activity reflected steady market participation, with 24-hour trading recorded at a specific amount, according to data from Coingecko. Market capitalization stood at a specific amount, with nearly the entire total supply of tokens already in circulation. This distribution provided clarity on available market supply for traders and investors. According to an observation by CryptoShib, SHIB traded at a specific level after a decline but maintained upward recovery momentum. The chart indicated alternating dips and rallies before the price stabilized above a specific level. A marked trajectory projected levels above a specific level, reinforcing expectations for a strong upward expansion. The traders are keeping an eye on important levels and the immediate resistance is at a specific level and a stronger resistance at between specific levels. Analysts observed that the clearing of these levels may increase the pace towards another level. The trends in history indicate that the current structure has been accompanied by rapid rallies in most cases, and thus, the underlying consolidation process can be considered a crucial indicator of the future movement of SHIB.

Shiba Inu’s Layer 2 network, Shibarium, has recently witnessed a significant surge in transactions, exceeding 10,000 new entries within the past 24 hours and arriving at a total of a specific number. This marks a noticeable increase from the number of transactions recorded on a specific date. Despite this uptick, the network’s overall transaction growth remains stagnant. When compared to the record levels achieved at the end of August, the current statistics appear relatively low. Shibarium experienced its peak on a specific date, with an astounding number of daily transactions. However, just a week later, the number plummeted to a specific number. In September, the situation further calmed down. Though transactions hit a specific number on a specific date, a specific number on another date, and a specific number on yet another date, they remained below 20,000 on other days. This indicates waning investor interest and a loss of momentum in the network.

September is often recognized as a period of weakness in cryptocurrency markets, a seasonal doldrum that might explain Shibarium’s slowing transaction count. Moreover, a recent bridge attack leading to the halt of staking/unstaking operations has also shaken user confidence. While the total number of transactions reaches a specific number, there hasn’t been a rapid increase since the start of the month. Conversely, Shibarium’s total block count surpassed a specific number, with over a specific number of total addresses. In the crypto sphere, Shibarium’s current stagnant state prompts reevaluation of interest in the project. Nonetheless, there is potential for resurgence as the market moves past seasonal effects and security issues are resolved. Another notable development attracting investor attention is the growing competition in Ethereum’s Layer 2 solutions. Recently, projects like Arbitrum and Optimism have recorded significant increases in transaction volumes, leaving observers curious about how Shibarium will adapt to this landscape. Particularly, the support from the Shiba Inu community may play a crucial role in the project’s long-term performance. Historically, short-term declines don’t entirely wipe out long-term expectations within the broader cryptocurrency markets. For this reason, investors continue to watch Shibarium closely. The network’s future will be shaped by technical developments, community support, and market conditions. Meanwhile, talks about Bitcoin ETF approvals in recent days may provide new momentum to the market. How these developments will affect Shibarium and similar projects will become clearer in the coming weeks.

Despite the poor performance of meme coins in the ongoing bull market, analysts have become convinced that Shiba Inu could rise above the rest to have a remarkable end to the current cycle. A by-product of any Shiba Inu price rally could be the resurgence of the broader meme coin ecosystem due to the token’s position as the second-largest meme coin by market cap. As a result, crypto news headlines have been dominated by possible Shiba Inu price predictions as the ongoing bull market rallies toward its peak period. All of these events certainly make Shiba Inu one to watch over the next few months. If analysts are spot on with their recent Shiba Inu price prediction, the token could outperform the broader meme coin ecosystem, and perhaps a large part of the general crypto market in the ongoing cycle. The move comes following a series of ecosystem improvements that analysts believe could spark a resurgence in the market.