TradingView analyst Hamidemo believes time is running out to seize the current opportunity to buy Shiba Inu (SHIB) at a discount. He suggests that SHIB is preparing for a decisive move after spending more than a year consolidating within a massive triangular pattern. According to Hamidemo, SHIB is approaching the final stages of compression on the weekly timeframe.Indeed, SHIB has been one of the worst-performing top-ranked crypto assets in recent times. Currently trading at $0.00001246, Shiba Inu has recorded a 10% loss over the past year, during which Bitcoin’s price has surged by 90%.Hamidemo’s chart confirms SHIB’s underperformance but also offers hope for a turnaround. It highlights a descending resistance line that has consistently capped upside moves since 2021, now converging with a support base. This setup suggests a breakout from the downtrend is imminent. The analyst noted: “Tik tak… time is running out.” Shiba Inu Could See 528% Upside from HereAccording to Hamidemo’s chart, the expected Shiba Inu breakout could result in a price surge of over 528%. This would push SHIB’s price to $0.00007837, approaching its all-time high region.However, along the way, Shiba Inu must overcome key resistance levels at $0.00002381 and $0.00003300, levels it failed to breach in January.Resistance also extends to $0.00004601, around where SHIB lost momentum in March 2024. Beyond this point, there are no significant hurdles until the next resistance at $0.00006589, a level last seen in 2021. Hamidemo’s Shiba Inu weekly chart $0.00011 Price on the TableInterestingly, Hamidemo has an even more ambitious outlook for SHIB beyond $0.00007837. He believes that once SHIB reaches $0.000078, it could still climb another 46% to hit $0.0001151. Achieving this would mark a historic milestone, as SHIB would effectively "cancel" another zero after several years of trading with four leading zeros.Other Analysts Also Bullish on SHIBNotably, this projection aligns with the long-term price forecast of analyst Javon Marks, who continues to emphasize SHIB’s potential to reach $0.00015 in the future.In his latest commentary, Marks maintains his bullish outlook, stating that the market should watch for a 155% surge back to the $0.000032 resistance level, which could pave the way for further gains.Many other market watchers are also optimistic about SHIB’s prospects. Shah Faisal Shah noted that while few are currently paying attention to SHIB, it will likely be among the fastest-moving assets when the breakout occurs.Similarly, analyst Sheriff remarked that the longer SHIB remains in its accumulation phase, the more powerful its eventual breakout will be. https://twitter.com/Gem_Sheriff/status/1957806521548480727As for when this promising market shift might materialize, some analysts believe meme coins will have their moment after large-cap altcoins hit new peaks.
