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Recent analysis reveals that the Shiba Inu price has formed a Falling Wedge pattern and is on the verge of breaking above it. Technical indicators suggest that SHIB could embark on a massive rallyonce this breakout occurs, as analysis predicts a price surge of over 250% in the coming months. Shiba Inu Price Gears Up For 250% Rally
Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, is showing signs of a potential breakoutto the upside. A crypto analyst identified as Rose Premium Signals on X (formerly Twitter) highlightedthat SHIB is currently retesting the perfect accumulation zone, representing a crucial support level that historically acts as a launchpad for a price rally. The analyst predicts that Shiba Inu is set for a 250% price surge to new highs. Related Reading Shiba Inu Price Gearing Up To Fly After Lows, Here’s The Target 4 weeks ago
After experiencing months of decline and volatility, the price formed a unique technical pattern called a Falling Wedge. This pattern is a classic bullish reversal signal that forms when there is a downward trend in a cryptocurrency’s price action.
Considering that Shiba Inu has recorded multiple price crashesto new lows, the emergence of this pattern breathes optimism into the meme coin’s future outlook. Rose Premium Signals has shared a price chart, providing a clearer view of this technical pattern. The chart shows that SHIB is nearing the apex of its Falling Wedge pattern and is on the verge of a breakout. SHIB set to rally by over 250% | Source: Rose Premium Signals on X
A successful breakout from this bullish patterncould trigger a sharp upward movement, propelling the Shiba Inu price by 250% towards key resistance levels at $0.00002913, $0.00003612, and ultimately $0.00004401. This final price target represents a staggering 251% increase from Shiba Inu’s current market value.
The analyst has set a timeline for his optimistic prediction, forecasting that Shiba Inu will hit a price peak of $0.00004401 in the next 77 days, around April 29, 2025. On a side note, Rose Premium Signals expects a breakdown in the Shiba Inu price before this projected rally.
The analyst predicts that Shiba Inu could decline and hit a final price low of $0.00001299 before it embarks on its surge to $0.00004401. This price crash is expected to occur around March 2025. If this bearish projection holds, it may present a prime buying opportunityfor investors aiming to capitalize on the analyst’s 250% SHIB price rally forecast. TD Sequential Flashes Buy Signal For SHIB
According to data from CoinMarketCap, the SHIB price is currently trading at $0.000015, recording declines of over 3.9% in the last 24 hours and 23.8% over the past month. While the meme coin still faces bearish pressure, crypto analyst Ali Martinez has revealedthat Shiba Inu’s TD Sequential indicator has flashed a buy signalon the weekly chart. Related Reading Shiba Inu Price To $0.000045? Here Are The Major Support And Resistances To Watch Out For 1 month ago
Due to this technical indicator, the analyst surmised that Shiba Inu is showing signs of a potential reboundto the upside. He shared a chart and predicted that SHIB could advance toward a new target of $0.0000185. SHIB trading at $0.000015 on the 1D chart | Source: SHIBUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com