Shiba Inu on the Cusp: Can SHIB Unlock a 589% Surge?

Shiba Inu (SHIB) has returned to a price area that has repeatedly served as a foundation for upward movements since early 2022. Market analysts are closely monitoring this zone, noting that SHIB’s ability to maintain support here could determine whether it embarks on a significant rally over the coming months. According to market analyst Crypto Nuclear, the price range between $0.00001090 and $0.00001190 is a critical demand area. This zone has been tested multiple times over the past three years and has consistently absorbed selling pressure. The analyst notes that the current retest could be decisive for SHIB’s trajectory in 2025. As of report time, SHIB is trading near $0.00001328, reflecting a 4.64% increase in the past 24 hours and a 7.77% gain over the past month. If buying momentum strengthens and the price remains above $0.00001190, the next resistance levels are projected at $0.00001580, $0.00001940, $0.00002400, and $0.00003338. For the longer term, Crypto Nuclear has identified $0.00007870 and $0.00008836 as major upside targets. Achieving these levels would represent gains of approximately 514% to 589% from current prices and would place SHIB near historical highs. However, the analyst stresses that such targets would require sustained demand and broader market support. Risk Factors and Downside Scenarios While the current structure suggests potential for a bullish breakout, analysts also caution about the possibility of a downward move. A decisive drop below $0.00001090 could indicate weakness in the current trend, potentially leading to declines toward $0.00000900, $0.00000700, or even $0.00000550. Crypto Nuclear also points out that the current pattern shows similarities to a Wyckoff-style spring, a setup that can precede a strong rally but is not guaranteed. This pattern involves a temporary break below support followed by a sharp recovery, but if the recovery fails, the risk of extended losses increases. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Additional Analyst Perspectives Other analysts share varying levels of optimism. Javon Marks has identified a bullish divergence on SHIB’s two-day chart, projecting a potential move to $0.000032, about 156% higher than the confirmation level near $0.00001250. This price was last reached in March 2024. Jonathan Carter observes that SHIB is consolidating between $0.00001050 and $0.00001250, a range that has historically attracted strong buying interest. He describes this phase as accumulation, suggesting that holding above this zone could lead to a sustained upward move. Carter lists resistance points at $0.00001400, $0.00001750, $0.00002050, and $0.00002500. Separately, Jake Gagain projects that SHIB could reach $0.00007636 if its market capitalization climbs to $45 billion, representing a 516% rise from current levels and a 660% gain from June’s low of $0.00001004. Similarly, Hunters Company maintains a bullish stance, citing SHIB’s resilience at key support levels. The consensus among analysts is that SHIB’s position in this demand zone will be crucial in determining its next major price movement . A strong defense of support could open the path to multi-hundred-percent gains, while a breakdown may result in extended weakness. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Shiba Inu on the Cusp: Can SHIB Unlock a 589% Surge? appeared first on Times Tabloid .