Shiba Inu (SHIB) Shows Bullish Signs, Targets 120% Gain

Shiba Inu (SHIB) has been maintaining its position above the crucial support level of $0.0000115, indicating a bullish outlook for the second-largest meme coin. Market analyst Ali Martinez highlighted key support levels for SHIB at $0.0000115 and $0.00000815, suggesting that the meme coin is showing signs of recovery with its current price at $0.0000128.

After experiencing a bearish trend that pushed its price below the $0.000010 mark, Shiba Inu appears to be on the verge of a bullish reversal. Crypto Sat, a market insights provider, noted that the 1-hour chart for SHIB is forming a Falling Wedge, a bullish reversal pattern. This pattern suggests that if SHIB breaks above the 1260 level, it could trigger a rally towards 1280 – 1320, indicating a strong upside move.

A falling wedge is considered a bullish reversal pattern because it signals a potential shift from a downtrend to an uptrend. As the wedge narrows, the volume decreases, indicating a lack of strong selling momentum and the potential for a bullish breakout.

According to the analyst's forecast, if Shiba Inu is included in President Donald Trump’s crypto reserve, the meme coin could potentially target the $0.0001 zone. Additionally, the Shiba Inu community is actively advocating for a SHIB-focused exchange-traded fund (ETF), urging major asset management firms to take action. This community-driven effort could further boost the meme coin's potential and attract more investors to the SHIB ecosystem.