- Shiba Inu poised for explosive rally with 165% gain potential.
- Analyst predicts major breakout as Shiba Inu hits key support.
- Accumulation phase ends, signaling significant price surge for Shiba Inu.
Shiba Inu has been trapped in a tight price range for months, but an analyst believes that this prolonged period of consolidation is about to end, setting the stage for a powerful rally.
According to Polaris_xbt, a well-known market analyst, the present stage is an accumulation one. Impatient traders have been shaken out, and a solid basis has been established, which could lead to an explosive move.
Over the last seven months, Shiba Inu has been trading between the ranges of $0.000016 to $0.000010, tested 5 times on the critical support at $0.00001. Bulls intervened every time the price reached this support and defended the level, avoiding further falls.
Polarisxbt observed that the action closely resembles the market movement of Shiba Inu in 2022-2023, which happened during the bear market. In the same period, the cycle accumulated to a breakout to $0.00004567 in March 2024, indicating that the same cycle can cause another rally.
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Accumulation Phase Signals Strong Breakout Potential
Based on this historical trend, Polaris_xbt predicts that Shiba Inu could target a price of $0.00003396, marking an 18-month high. If this happens, it would represent a remarkable 165% gain from current levels.
This objective is additionally reinforced by the December 2024 apex of -0.00003343, which lends the potential for another test of this worth. SHIB is currently trading at $0.00001309, an improvement of 7% in the last week. The market cap has now increased to close to $7.7 billion, with a daily trading volume of over $270 million.
Indicators Show Momentum Is Building
Market indicators are beginning to reflect cautious optimism. The MACD lines are showing slight upward momentum, though not yet with firm conviction. The RSI is at 55, meaning that Shiba Inu is neither overbought nor oversold, and thus it leaves much to be desired as far as prices are concerned.
These signals indicate that Shiba Inu could be on the verge of a breakout, and the next few days will reveal whether the expected rally will be as expected.
Source: Tradingview
As early momentum continues to pick up, the probability of a 165% upside in Shiba Inu appears more realistic. The market’s reaction in the next few days will be critical to confirming whether this rally is genuinely on the horizon.
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