Shiba Inu (SHIB) Rises 10% on Analyst Predictions

Shiba Inu (SHIB), the popular memecoin, has been a subject of intense investor interest since its remarkable surge in 2021, which saw it achieve an unprecedented 45,000,000% gain. Many investors are now anticipating another significant rally, with a price target of $0.001 being a common expectation. Currently trading at $0.00001281, SHIB would need to increase by over 7,000% to reach this milestone. Several analysts have shared projections suggesting that such a surge is possible under specific market conditions.

In October 2024, market analyst Crypto Sheriff predicted that SHIB was poised to begin a rally toward $0.001. This prediction was based on the token breaking out of a descending triangle pattern that had formed over the previous month. At that time, key resistance levels were identified at $0.00002, $0.0002, and ultimately $0.001. SHIB was trading at $0.00001855 when this analysis was published.

One month earlier, in September 2024, LuckSide Crypto, a widely followed cryptocurrency YouTuber, also projected a breakout for SHIB. His forecast was based on increasing whale accumulation and the observation that SHIB faced minimal resistance in its upward trajectory. He highlighted $0.000016 as a crucial resistance level that needed to be surpassed for SHIB to gain momentum.

Another respected analyst, Krao, echoed this sentiment in September 2024. He analyzed SHIB’s monthly candlestick chart, noting that the token had been in a downtrend since 2021. According to his projection, if SHIB successfully broke out of this pattern, it could reach $0.001 between January and February 2025. However, as of March 7, 2025, this prediction has yet to materialize.

In August 2024, Armando Pantoja anticipated a surge in market excitement around SHIB, driven by fear of missing out (FOMO). He argued that a relative strength index (RSI) divergence and a descending channel breakout on SHIB’s daily chart suggested an upcoming rally to