Shiba Inu (SHIB) Targets 609% Gain as Bullish Momentum Builds

Shiba Inu (SHIB) has recently shown signs of a potential turnaround after a prolonged bearish phase. Market analyst JavonMarks has set a price target of $0.000081 for SHIB, which represents a potential upside of over 609% from current levels. This projection is based on recent breakout action that has supported bullish momentum, suggesting that a secondary target of $0.0001553 could emerge if the trend sustains. Technical indicators suggest that the price may be preparing for another major rally after a long correction phase.

The chart reveals a powerful breakout from a long-term descending resistance trendline. SHIB surged from lower price levels, reaching a peak around $0.00079. However, it encountered selling pressure at that level. Despite the rejection, trading volume surged, confirming aggressive buyer interest. Momentum indicators began flashing early bullish signals, forming the foundation for the ongoing bullish outlook. The market then entered a drawn-out correction, forming consistent lower highs and lower lows. Each rebound grew weaker, indicating growing bearish control. However, this phase appears to be completing, as SHIB now stabilizes around historic support near $0.0001.

Looking at the broader timeline, the price action maps a complete market cycle. SHIB moved through accumulation, markup, distribution, and markdown. Early 2022 saw a major top formation at $0.00079, followed by a lengthy decline. Notably, “Hidden Bullish Divergence” signals have appeared in recent sessions. These suggest that underlying momentum is strengthening despite muted price action. Annotated reversal points mark moments of sentiment shifts. These coincide with critical support and resistance zones. Hence, the $0.00079 resistance remains a crucial barrier. On the other hand, support around $0.0001 may attract renewed accumulation.

Currently, SHIB appears to be consolidating at lower levels. Trading volume has decreased, indicating low volatility and indecision. However, this calm may be temporary. Additionally, historical behavior shows similar setups before large upward movements. Long-term investors may find this structure appealing for potential entry. SHIB has recently experienced a notable bullish breakout, surpassing a critical trend resistance level at $0.000081. This breakout is not a temporary spike but a sustained move, with the breakout level now serving as a support zone. This development suggests growing confidence among traders and large holders, who are actively accumulating SHIB. The initial target of $0.000081 has been achieved and maintained, securing gains. The next target for SHIB is set at $0.0001553, which represents a potential rally of approximately 609% from current levels, assuming the bullish momentum continues. This target has become a focal point for market attention, with traders and analysts closely monitoring the cryptocurrency's performance.

Several factors could contribute to SHIB's continued climb. On-chain metrics, such as rising wallet activity and accumulation by large holders, often precede sustained rallies. Additionally, broader market sentiment and positive developments, such as partnerships, listings, or media coverage, could accelerate upward moves. However, traders should remain cautious, as a correction back toward $0.000081 is possible if broader market sentiment turns risk-off. As long as the breakout level holds, bullish pressure is likely to favor upside targets. Technical analysis further supports the potential for a price surge, with an estimated breakout point at $0.000009. Adding this to the current price gives an estimated target of $0.0000139, representing a 50% increase from the current level. This analysis is based on the assumption that the market will continue to show bullish signals, which could lead to a new run for SHIB.

The recent performance of SHIB has been influenced by various factors, including market sentiment and investor behavior. The cryptocurrency's price has been volatile, with significant fluctuations in value over the past month. However, the current bullish signals suggest that the market may be turning in favor of SHIB, which could lead to a new run for the cryptocurrency. The potential for a price surge is further supported by the fact that SHIB has shown signs of a potential rebound after a major sell-off. This suggests that the market may be turning in favor of SHIB, which could lead to a new run for the cryptocurrency.