SHIB Poised for 30% Rally as Analyst Spots Bullish Cup and Handle Pattern
Crypto analyst MiguelFT Curado has identified a bullish technical formation for shiba inu (SHIB), suggesting a potential 30% price surge. The meme coin, currently trading at $0.00001289, is showing signs of a trend reversal as it forms a classic cup and handle pattern on its daily chart. This development comes amid renewed interest in meme coins and could mark a significant turnaround for SHIB after its prolonged bearish phase.
Analyst Foresees 30% Surge in Shiba Inu Price Amid Technical Pattern Formation
Crypto analyst MiguelFT Curado has identified a potential breakout for Shiba Inu (SHIB), citing a cup and handle pattern on the daily chart. The meme coin, trading at $0.00001289 with a 2.33% daily gain, appears to be forming a rounded bottom—a classic reversal signal after prolonged bearish momentum.
The key breakout level sits at $0.00001274, according to the TradingView analysis. Market watchers are noting the pattern’s resemblance to historical trend reversals, though the asset remains vulnerable to short-term downward pressure before any sustained upward movement.
Shiba Inu Breaks Falling Wedge Pattern Amid Market Recovery
Shiba Inu has surged 3% following a breakout from a falling wedge pattern, signaling potential bullish momentum. The meme coin now trades at $0.00001277, with on-chain data and Fibonacci targets suggesting a 20% upside toward $0.000015.
Four consecutive bullish candles mark the reversal, as SHIB rebounds from a V-shaped recovery at $0.00001240. The second-largest meme coin by market capitalization mirrors broader crypto market gains, though its trajectory remains contingent on sustained demand.
Shiba Inu Nears Potential Breakout as 3-Year Symmetrical Triangle Approaches Apex
Shiba Inu (SHIB) is showing signs of a potential bullish breakout as it approaches the apex of a three-year symmetrical triangle pattern. TradingView analyst BITfinity highlights this technical setup, suggesting a possible shift in long-term momentum for the meme coin.
The cryptocurrency has been trading in a tight range between $0.000012 and $0.000013 over the past week, with brief intraday volatility failing to disrupt the broader downward trend. A notable dip on May 6 marked a short-term low, followed by a modest bounce on May 7 that proved insufficient to reverse bearish sentiment.
The symmetrical triangle pattern, visible on weekly charts, began forming after SHIB’s all-time high. Analysts are now watching for a decisive breakout that could propel the token toward the $0.0001 level.
SHIB Price Surges 10% Amid Record Token Burns
Shiba Inu’s SHIB token rallied sharply as community-driven burns reached unprecedented levels. Over 15.8 million tokens were permanently removed from circulation—a 4,800% spike in daily burn rate that propelled prices 10% to $0.00001396.
The meme coin’s supply dynamics continue evolving, with 410 trillion SHIB already destroyed since inception. Yet the remaining 589 trillion in circulation leaves ample room for further deflationary pressure.
