Shiba Inu (SHIB) might be on the verge of a powerful rally, according to crypto analyst MasterAnanda, who believes the popular meme coin could climb more than 1,500% in this cycle. The analyst predicts SHIB may cancel another zero and reach a new all-time high if a few key levels are cleared. Related Reading: Bitcoin 30-Day Average Funding Rate Drops – Bullish Setup Takes Shape Signs Of A Possible Reversal SHIB has been stuck in a downtrend since March 2024. It peaked at $0.000045 before sliding back to close that month at $0.000030. Since then, the coin has moved within a descending triangle pattern, bouncing around the base while facing strong bearish pressure. However, something may be changing. SHIB has just printed a fully green weekly candle and gained 15% over the past seven days. According to analysts, this is one of the most bullish weekly moves since early May, when the token jumped 25%. Despite the optimism, SHIB remains below its 200-day moving average, which sits at $0.000016. That’s around 19% higher than its current price of $0.000013. Analysts see this as a critical level the token must beat to confirm a long-term bullish trend. Bullish Price Targets Appear On The Chart MasterAnanda believes SHIB will break above the triangle and make a run toward $0.000032, aligning with the 0.50 Fibonacci retracement level. If that plays out, the analyst sees a further move to $0.000067, then to $0.00010, which would represent a new all-time high. From there, two more possible targets have emerged using Fibonacci extensions: $0.00017 and $0.00022. Those would mark gains of 1,180% and 1,529%, respectively. While ambitious, other analysts have also supported a similar price path based on the same descending triangle breakout. Shiba Inu Sentiment Mixed As Greed Index Climbs Although bullish targets are grabbing headlines, market sentiment is still uncertain. Based on recent data, SHIB recorded green days on just 13 out of the last 30, and showed 4.25% price volatility. The current reading for sentiment is “Neutral” and the Fear & Greed Index stands at 69, which is in the “Greed” category. Price prediction tools indicate that SHIB could increase 27% to August 10, 2025, at about $0.000017. That will bring it nearer to its MA-200, but still far from the lofty targets being predicted by some analysts. Related Reading: Ethereum Back At Range Highs: Breakout Above $2,800 Could Ignite Altseason SHIB holders are now waiting to see what’s next. Will the triangle breakout occur in a hurry, or will resistance levels hold the token below major technicals? The coming weeks may provide the answers. Featured image from Meta, chart from TradingView
