- Shiba Inu is showing strong bullish signals, with analysts predicting a potential 143% surge to $0.00003036.
- Key technical indicators, including RSI, MACD, and WTO, suggest a breakout could be imminent if current momentum holds.
Shiba Inu (SHIB), the second-largest meme coin by market cap, may be on the cusp of a significant rally — and technical analysts are turning heads. A recent analysis by TradingView contributor “Bicoinmoney” points to a potential 143% surge, forecasting a breakout to $0.00003036.
SHIB has shown resilience in recent sessions, rebounding from a low of $0.00001182 and posting a modest 1.47% daily gain. This comes on the heels of a 20% pump last week — a move that fizzled out
quickly. However, analysts now believe the momentum may be more sustainable this time.
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One of the key indicators sparking optimism is SHIB’s position within a descending wedge pattern on the 3-day chart. According to “Bicoinmoney,” the token is nearing the tip of this wedge and hovering close to strong support between $0.00001150 and $0.00001200 — a critical zone for a bullish reversal.
Technical signals are aligning in favor of the bulls. The Relative Strength Index (RSI) is currently at 34.17, near the oversold threshold. Moreover, a bullish divergence is forming between RSI and price — often a precursor to trend reversals.
The Moving Average Convergence Divergence (MACD) is also flashing a buy signal, with the MACD line nearing a crossover with the signal line. Additional indicators such as the Wave Trend Oscillator (WTO) and Cluster Algo reveal increasing buying pressure, signaling accumulation among SHIB holders.
That said, SHIB is still trading below the Ichimoku Cloud — a sign that bearish momentum hasn’t fully dissipated. However, the cloud is thinning, hinting at a possible trend shift if current accumulation continues.
The analyst outlines key resistance levels ahead. A breakout above the wedge could see SHIB test the $0.00001503 mark (0.718 Fibonacci level), followed by major resistances at $0.00002153 and $0.00002609. Clearing these hurdles could pave the way for a run to $0.00003036 — a level not seen since late 2023.
As of now, Shiba Inu trades at $0.00001241. While bullish signals are stacking up, investors are urged to proceed with caution amid market volatility.
