Shiba Inu Poised for Explosive Rally as Falling Wedge Breakout Hints at Multi-Month Highs
Dogecoin’s scrappy rival is barking up the right chart. Shiba Inu’s 3-day pattern flashes the clearest bullish signal since its 2021 meme-fueled frenzy—just as crypto traders start eyeing the next ‘narrative.’
The Technical Setup
A textbook falling wedge breakout—the kind that makes TA nerds slam their ‘long’ buttons—has SHIB eyeing levels last seen before Elon Musk renamed Twitter. No guarantees in a market where ‘fundamentals’ mean a dog photo, but the 3-day chart’s RSI isn’t screaming overbought yet.
The Trader Psychology Play
Retail’s favorite underdog token now dances at the intersection of two powerful forces: a bored market desperate for action, and the lingering stench of ‘2021 vibes.’ When the 20 EMA crosses the 50 on this timeframe, even hedge fund bros start ‘researching’ memecoins.
The Bottom Line
Could this be the start of a 3x grind toward the next hype cycle? Or just another fakeout before the SEC ‘saves’ us from ourselves? Either way—strap in. (And maybe mute that ‘Shib Army’ Telegram chat.)
Shiba Inu Falling Wedge Trend
Possible Target As Breakout Looms
With Shiba Inu’s recent resurgence, the analyst expressed optimism that it could finally break out from the multi-month falling wedge. When it does, he projects a rally to retest the price level where the pattern originated.
Specifically, he expects shiba inu to reclaim its December 2024 high of $0.00003343, which is 146.5% away from its current price of $0.00001356. Notably, a successful retest of the level will set Shiba Inu up for higher prices.
The price target aligns with an earlier call from analyst Javon Marks. The market commentator predicted a rally to $0.000032, as the MACD indicator signals bullish divergence.
Shiba Inu Next Near-Term Target
Meanwhile, SHIB KNIGHT believes Shiba Inu will reclaim bullish momentum in the coming days. His analysis points to a near-term surge to $0.000018, then to higher resistance zones.
Backing his assertion, the SHIB bull highlighted a promising structure on the Shiba Inu chart amid a higher low formation. He emphasized that the rebound from a recent low could be forming a higher low, which is a classic sign of building upward momentum.
