Shiba Inu Eyes 589% Rocket Ride—If It Breaks This Critical Price Zone
Shiba Inu isn’t just barking—it’s howling at the moon. The meme coin’s latest price action hints at a potential 589% surge, but only if it claws its way above a make-or-break resistance level.
The Do-or-Die Zone
Traders are glued to charts as SHIB teeters on the edge of a technical inflection point. Clear this hurdle, and the path to meme-fueled glory opens wide. Fail? Back to the doghouse.
Why 589% Matters
The number isn’t plucked from thin air—it’s the exact upside target flashing on whale watchlists. Institutional gamblers might dismiss it as ‘hopium,’ but retail armies live for these make-or-break moments.
The Cynical Kick
Of course, in crypto-land, even ‘critical zones’ can vanish faster than a hedge fund’s ethics when the Fed speaks. But for now, the charts don’t lie—just ask the ‘technical analysts’ who predicted last year’s crash (after it happened).
shiba Inu testing make or break zoneShiba Inu testing make-or-break zone
The analyst emphasized that this zone marks a decisive point in the trend, where bullish participation is essential to maintain the market structure. The repeated retests of this accumulation zone are setting the stage for a breakout if the support continues to hold.
If SHIB maintains its position above $0.00001190 and attracts stronger buying interest, several upside resistance levels may come into play. The first is $0.00001580, followed by what Crypto Nuclear termed as mid-term bullish targets: $0.00001940, $0.00002400, and $0.00003338.
The analyst projected $0.00007870 and $0.00008836 as the long-term target, a 514% to 589% uptick from the current price. This area is a key supply zone and aligns with previous SHIB price peaks.
Notably, Shiba Inu is trading at $0.00001281, a 3.5% rise in the past day, increasing its monthly gain to 8.3%. A confirmed breakout above $0.00001580, particularly with increased volume, could signal a trend reversal and possibly end the extended consolidation.
Risk of Breakdown Remains for Shiba Inu
Despite signs of accumulation, the risk of a bearish breakdown is still present. If SHIB drops below $0.00001090, it could signal trend weakness and trigger a deeper correction.
Crypto Nuclear identified lower support zones at $0.00000900, $0.00000700, and $0.00000550. A fall into this range may suggest the market is shifting from accumulation to a distribution phase, where lower lows become more likely.
Crypto Nuclear suggests the current structure resembles a Wyckoff-style spring, a pattern that typically precedes bullish expansion. This setup involves a fake-out below support before a sharp rally begins.
Other Analysts Predict Shiba Inu's Price
Meanwhile, according to analyst Javon Marks, Shiba Inu may be preparing for a breakout after confirming a bullish divergence on the two-day chart. Marks projects a 156% rally from the confirmation level near $0.0000125, targeting $0.000032, a level not seen since March 2024.
Meanwhile, analyst Jonathan Carter noted that Shiba Inu is now consolidating above a key support zone between $0.00001050 and $0.00001250, an area that has historically attracted buyer interest.
Carter views this as an accumulation phase and says holding this support could lead to a sustained rally. He identifies potential resistance targets at $0.00001400, $0.00001750, $0.00002050, and $0.00002500.
