Shiba Inu price may be on the verge of a breakout that could send it soaring over 500%, according to one technical analyst.
This optimistic forecast for the Shiba Inu price hinges on what’s known in technical trading circles as an “Inverse Head and Shoulders” pattern. Such formations are typically viewed by chart analysts as indicators of a potential trend reversal from bearish to bullish. According to the analyst, identified on X (formerly Twitter) as @JavonTM1, Shiba Inu appears to be in the final stages of this pattern.
Technical Pattern Fuels Bullish Shiba Inu Price Outlook
In a recent post, the analyst elaborated on this view. “@JavonTM1 stated: ‘As $SHIB (Shiba Inu) continues to hold in a huge Inverse Head & Shoulders Pattern and in there last phases of it, these prices can be GETTING READY TO RUN and it could consist of an over 503% upside to our first target at $0.000081!'”