Analysts See Shib Bullish Setup—Could This Trigger a 500% Surge?

Shiba Inu ($SHIB)has snapped free from weeks of downward pressure, breaking a key resistance line on September 8 — a move that traders say could ignite one of the token’s biggest rallies yet.

Key Points

• SHIB breaks through a descending trendline that capped price since late August.
• Analysts highlight triangle formation and MACD divergence as bullish signals.
• Forecasts range from a 34% rally to a potential 500%+ breakout.

Analysts are pointing to multiple bullish chart formations, including a descending triangle and MACD divergence, with projections ranging from moderate gains to an explosive breakout.

The breakout occurred on Sunday, when SHIB pushed past a resistance line that had held since late August. Crypto analyst MarkETHreal highlighted the move in a post on X, writing: “$SHIB breakout in some style. Look how clean the setup looks that SHIB [is] following.” His remarks added to a growing chorus of traders emphasizing the strength of SHIB’s technical structure.

Triangle Formation and 34% Target

Following the initial surge, analyst Carl “The Moon” Runefelt identified a larger pattern unfolding on SHIB’s daily chart. In a Monday post, he described a potential horizontal triangle that, if confirmed, could propel SHIB significantly higher. His chart projected a 34.10% increase, targeting a price of roughly $0.00001588.

Descending triangles often signal a major move when price breaks out, and in this case, the pattern is tilted toward a bullish outcome. Runefelt’s analysis reinforced the idea that SHIB may be entering a period of upward momentum after weeks of consolidation.

Long-Term Bullish Divergence

Adding to the optimism, crypto trader Javon Marks had flagged a broader bullish divergence days before the breakout. On September 2, he noted that SHIB’s chart confirmed a “BULLISH PATTERN in a Regular Bull Divergence with the MACD Histogram.”

According to Marks, this signal could trigger a “major bullish reversal back to the upside,” potentially leading to gains of over 163% and pushing SHIB back into the 0.00003 range. He also suggested that this move may only be the beginning, pointing to a possible breakout target of 0.000081 — a surge of more than 570%.

What It Means for Traders

As of 2:15 a.m. ET on Tuesday, Shiba Inu was trading at $0.00001290, up by 3.26% on the day with a 24-hour trading volume up by 75.68%, based on the data from CoinMarketCap. SHIB is holding above its recently broken trendline.

While the immediate breakout has fueled optimism, it is worth noting that chart patterns are only projections, not guarantees. Still, the alignment of multiple bullish indicators has placed Shiba Inu firmly on traders’ watchlists as one of the more promising meme tokens to monitor in September.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.