Shiba Inu Shatters Descending Channel - Here’s Where Price Is Headed Next
Shiba Inu just ripped through critical resistance—and the charts are screaming momentum shift.
Technical Breakout Confirmed
The meme coin's descending channel pattern finally broke to the upside after weeks of consolidation. That textbook breakout signals potential bullish momentum building beneath the surface.
Where Price Goes From Here
Traders are now eyeing key resistance levels that could trigger the next major move. Historical patterns suggest this breakout could fuel significant upward movement if volume sustains.
Meanwhile, traditional finance analysts are still trying to explain how a dog-themed cryptocurrency outperforms their carefully constructed portfolios—but then again, they also thought subprime mortgages were a solid investment.
Shiba Inu Confirms Descending Channel Breakout
In an X post, Carter said that the shiba inu descending channel breakout has been confirmed. He noted that the meme coin has successfully broken above the descending channel and is currently consolidating just below the MA 50 on the daily timeframe. Based on this, the analyst indicated that SHIB could record a rally of over 100%.
This came as Carter stated that a move above this MA could trigger an explosive rise toward targets at $0.00001400, $0.00001750, $0.00002050, and $0.00002500. Meanwhile, his accompanying chart showed that Shiba Inu could rally further to $0.000033 if it successfully breaks above $0.000025. However, the $0.000033 level will mark a huge resistance for the meme coin.
Notably, crypto analyst Javon Marks recently predicted that Shiba Inu could record a rally of over 163% to the $0.00003 range. He stated that the SHIB price had formed a bullish pattern in a regular bull divergence, which the MACD Histogram confirmed. Based on this, he declared that a reversal was on the horizon, with the meme coin rallying to the upside.
These bullish predictions come amid a bearish sentiment toward the Shiba Inu price. The meme coin has underperformed the broader crypto market and is down over 42% year-to-date (YTD). However, crypto analyst Shib Spain is still bullish on the meme coin. He stated that the longer the meme coin’s accumulation continues, the more powerful the explosion will be.
SHIB At Crossroads At The Moment
In a TradingView post, crypto analyst CobraVanguard suggested that the shiba inu price is at a crossroads at the moment. This came as he highlighted a triangle pattern, which he stated would break in the direction it is breached, and the price would then move in that direction. His accompanying chart showed that $0.000012251 is the key level to watch out for as the meme coin decides its next move.
A breakdown below this price level could send Shiba Inu to as low as $0.000011269. Meanwhile, a successful break above this level could send the meme coin to as high as $0.000014183 in the short term. This marks one of the price levels that Carter mentioned as SHIB eyes a rally above the psychological $0.00002 level.
At the time of writing, the Shiba Inu price is trading at around $0.00001240, up in the last 24 hours, according to data from CoinMarketCap.
