- Shiba Inu’s bullish setup: Analyst CryptoELITES points to a cup-and-handle pattern, suggesting SHIB could be gearing up for a massive breakout despite recent market struggles.
- Price targets & potential rally: If SHIB follows the expected trajectory, it could see a 442% surge to $0.00008517, a 115% push to $0.0001833, and an ultimate 30x explosion to $0.0004729.
- Market sentiment mixed but hopeful: Other analysts predict similar gains, with Rose Premium Signal eyeing a 167% jump and Javon Marks forecasting a 10x rally—but SHIB must overcome bearish resistance before momentum kicks in.
Could Shiba Inu ($SHIB) be on the verge of a parabolic surge? A well-known market analyst seems to think so—pointing to a bullish technical setup that could ignite a massive rally.
But let’s not get ahead of ourselves. SHIB has been struggling lately. The meme coin is down 5% in the last 24 hours and 4.7% over the past week, mirroring the broader market’s lack of momentum. On a larger scale, it’s already dropped 26% year-to-date—a brutal correction that’s left many traders skeptical.
Still, CryptoELITES—who has been closely tracking SHIB’s price action—believes a breakout is brewing.
Technical Setup Remains Bullish Despite Market Jitters
In a tweet on Tuesday, the analyst reaffirmed his bullish stance, stating that Shiba Inu’s long-term structure is still intact. He pointed to a cup-and-handle formation, a pattern that has historically led to explosive price breakouts.
🚀 Shiba Inu to $0.0004729? That’s the call.
SHIB has already completed the “cup” and is now hovering near the handle’s neckline at $0.00003117, which aligns with the 0.618 Fibonacci retracement level. According to CryptoELITE, a clean break above this zone could send the token flying.
Adding to the optimism, Bitcoin’s dominance has started slipping—dropping from 64.34% to 61.43% over the past week. Historically, when BTC’s market share declines, altcoins tend to take the spotlight. If this pattern repeats, Shiba Inu could be in for a major pump.
Price Targets: Where Could SHIB Go From Here?
CryptoELITE outlined three potential price targets if the bullish scenario plays out:
- First stop: A 442% rally to $0.00008517, reclaiming its all-time high.
- Next leg up: A 115% push toward $0.0001833.
- Ultimate moonshot: A mind-blowing 30x surge to $0.0004729, hitting the 1.618 Fibonacci level.
Other Analysts Are Also Bullish on SHIB
CryptoELITE isn’t the only one calling for higher Shiba Inu prices. Other notable analysts have also pointed to bullish setups forming.
- Rose Premium Signal predicts a 167% rally to $0.00004401, citing a monthly support retest as a key catalyst.
- Javon Marks is even more aggressive, forecasting a 10x move to $0.0001553, arguing that rising demand and strong trends are setting SHIB up for a major breakout.
Final Thoughts: Can SHIB Deliver?
At the moment, Shiba Inu is trading at $0.00001571, with a market cap of $9.2 billion. While the sentiment remains mixed, technical indicators suggest that a powerful move could be on the horizon.
The big question: Will SHIB’s bullish setup lead to one of the biggest surges in meme coin history? Or will market resistance and weak momentum keep it stuck in consolidation?
One thing’s for sure—the next few weeks will be crucial.
