Gushiken Yona
Shiba Inu (SHIB) is teetering on the edge of a massive 55% price breakout, as technical patterns signal a potential surge to $0.000037βif the token can Ρonquer the crucial $0.000025 resistance level, according to a recent forecast.
Technical and on-chain analyst Ali Martinez shared to his over 85,000 followers on Thursday a new forecast on the price of Shiba Inu, highlighting the potential double-digit surge of around 55% from the token’s current price should it breakthrough the $0.000025 resistance. The core of Martinezβs prediction centers on a technical pattern known as a βbull flag.β
This pattern, clearly visible on the chart he shared, consists of a sharp upward price movement (the βflagpoleβ), followed by a period of consolidation within a descending channel (the βflagβ). The descΠ΅nding channel represents a temporary pause in the upward momentum, often characterized by lower trading volume.
The chart that accompanied his X post shows a clear, well-defined flag, extending from the peak of the initial price surge. The angled lines of the descending channel visually represent the temporary consolidation, suggesting to the analyst that the bullish momentum is not yet spent.
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Beyond the technical setup, on-chain metrics suggest growing confidence in SHIB. Whale activity has increased, with large holders accumulating tokens during the recent consolidation. Additionally, heightened wallet activity reflects renewed interest in SHIB, as its ecosystem continues to expand with developments like Shibarium and DeFi integrations.
Shiba Inu Price Action
As of 7:02 a.m. ET on Thursday, Shiba Inu (SHIB) is trading at $0.000024, reflecting a nuanced market trajectory. Over the past 24 hours, the token has declined by 3.38%, contributing to a broader 7-day downturn of 6.80%. However, on a more optimistic note, Shiba Inu has gained an impressive 31.48% over the past month, showcasing its ability to rebound and attract investor interest despite short-term volatility.
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The tokenβs 24-hour trading volume stands at a substantial $1,129,879,161, underlining strong market activity and liquidity. With a market capitalization of $13,989,454,968, Shiba Inu remains one of the top-performing meme coins, backed by a circulating supply of 589.26 trillion SHIB coins, according to recent data from CoinMarketCap.
Shiba Inuβs price movement reflects a volatile yet potentially rewarding landscape. Short-term losses are evident, but the tokenβs 31.48% monthly increase signals underlying strength in the market. Adding to its appeal is the overwhelmingly positive sentiment within its community. A recent sentiment analysis shows 89% of investors are bullish on SHIB, with only 11% expressing bearish views.
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YONA GUSHIKEN
Yona brings a decade of experience covering gaming, tech, and blockchain news. As one of the few women in crypto journalism, her mission is to demystify complex technical subjects for a wider audience. Her work blends professional insight with engaging narratives, aiming to educate and entertain.
