- Shiba Inu (SHIB) may surge over 1,000% to reach a price target of $0.000150, supported by technical analysis.
- The coin is trading within a tight weekly triangle pattern, with support at $0.00001045 and resistance at $0.00001678.
- Shibarium, Shiba Inu’s blockchain network, surpassed 1.5 billion processed transactions, signaling strong adoption.
- Analysts highlight bullish signals and possible gains of 156% or more if certain resistance levels are broken.
- Risks include declining burn rates, stable whale holdings, and a drop in the network’s total value locked, though development continues.
Shiba Inu’s price could jump by more than 1,000% to $0.000150 as technical charts indicate the meme coin is preparing for a large price movement. This development comes as SHIB trades within a narrow triangle pattern on the weekly chart, a technical setup that often signals a potential breakout.
Charts reviewed by analysts highlight that Shiba Inu‘s price is coiling near its support zone at $0.00001045, with immediate resistance at $0.00001678. According to analysis from Crypto Crew University, a break above this resistance may set off what is described as a “measured move,” potentially targeting $0.000150.
i>Coiling inside a giant triangle Near S1 potential long zone (NFA) Break above R1 & POC = measured move in play stated Crypto Crew University. Additionally, analyst Javon Marks observed that a recent divergence could signal the start of a bullish reversal for SHIB, possibly pushing the price over 156% higher to $0.000032 in the short term. Marks wrote: “Prices of Shiba could climb over 156% to reach the $0.000032 levels and that may only be the start of a larger reversal.” More technical insights and data can be found on Javon Marks’ social media.
Shibarium, Shiba Inu’s blockchain network for cheaper and faster transactions, has surpassed 1.5 billion transactions, with over 12.4 million blocks processed and nearly 268,000 addresses created. This milestone underscores the network’s growth and ongoing adoption. Recent updates, announced by Shibarium developers, include migrating to a new domain and opening new validator access, aiming to streamline user experience and security.
Despite the positive outlook, risks remain. SHIB’s token burn rate fell 72% recently, with only 181,928 tokens destroyed. Whale holdings—large investor positions—have not increased since July 21, staying at nearly 105 billion tokens. The total value locked on Shibarium also fell by 10% to $1.75 million. However, upcoming Layer-3 developments backed by $12 million in funding through partnerships with Animoca Brands and Polygon Ventures signal ongoing momentum.
For the bullish scenario to unfold, SHIB will need a weekly close above the current triangle pattern. Investors continue to monitor on-chain activity and technical milestones closely. More details and technical analysis are available at the Shiba Inu price target analysis.
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