Shiba Inu Targets 609% Gain as Analysts See Bullish Trend

Crypto analyst Javon Marks has maintained his bullish outlook for Shiba Inu (SHIB), setting a price target of $0.000081. This target, if reached, would represent a 609% increase from current levels. Marks' analysis points to a recent breakout from a key resistance trend as the catalyst for this potential rally. The next resistance level is identified around $0.0001553, indicating a significant upward trajectory for the memecoin.

Historical price patterns of Shiba Inu, analyzed through regression channels, reveal a consistent trend of declines followed by recoveries. Since its peak in late 2021, the token experienced a dramatic rise of approximately 1,200,000%, followed by a prolonged downtrend within a descending channel. Two major dips have marked key reversals, with the first low triggering a recovery towards the channel’s midpoint and the second, deeper low leading to a stronger rebound, showcasing increased buyer momentum.

A rising trendline connecting these large bottoms indicates growing buyer support after extended periods of decline. Historically, each touch of the channel’s lower boundary has sparked major rallies, demonstrating the reliability of this pattern. Analysts have projected medium-term price targets at approximately $0.000035 and $0.000070, corresponding to the midpoint and upper boundaries of the regression channels. Volume spikes at these bottoms suggest heightened market participation during recovery phases, further supporting potential upward movements.

Recent trading activity for Shiba Inu has been relatively flat, with the token ranging between $0.00001110 and $0.00001114, closing at $0.00001122, a decline of 1.98% over the last 24 hours. The market capitalization dipped to $6.61 billion, while trading volume fell by 3.65% to $108.29 million. However, no significant on-chain activities or large whale movements were reported, leaving SHIB’s market status unchanged as the 19th-largest cryptocurrency. The token continues to trade in line with broader mid-cap altcoin movements, awaiting stronger directional signals from higher trading volumes or market events.