Shiba Inu (SHIB) Ready to Break Out? Technical Signals Hint at 500% Rally
Shiba Inu (SHIB) is gaining traction again as the crypto market is rocked by geopolitical turmoil and fresh moves in technical analysis. With bullish patterns forming, many analysts are betting on a 500% rally for the Shiba dog meme coin.
SHIB Breaks Key Resistance at $0.000013
On Thursday morning, SHIB surged 2.3%, briefly surpassing $0.000013 – a key technical resistance level that was rejected in early May. If the price closes above this level in today’s trading session, SHIB could pave the way for a broader rally towards $0.000014.
Parabolic SAR and 200 EMA Send Positive Signals
Technical traders are taking note of the bullish signals from Parabolic SAR, a popular indicator for identifying trend reversals. With the SAR dots moving below the price candles – and SHIB trading above its 200-day EMA – this suggests that bulls are taking control of the market.
In addition, SHIB’s trading volume has reached over $124 million in the past 24 hours – a positive sign, although the volume remains modest compared to previous breakouts.
Analyst Predicts $0.000081 Target for SHIB
Javon Marks, a veteran crypto analyst, predicts a price target of $0.000081, based on a potential bullish divergence and emerging accumulation patterns. According to him, the months-long accumulation is preparing for a significant breakout.
However, to reach that peak, SHIB needs to overcome heavy resistance between $0.000014 and $0.000019 – where over 541 trillion tokens are held. Beyond this zone, the rally could turn parabolic.
Shibarium and Fundamental Factors Supporting the Uptrend
The Shibarium Layer-2 platform is also a potential supporting factor. SHIB ecosystem updates – from lower gas fees to new staking features – are fueling community expectations for a sustained bull run.
The Downside: Market Indecision Remains
However, the Balance of Power (BOP) indicator is showing a negative value, signaling market indecision. Without a stronger catalyst – either from Shibarium or the macro market – SHIB’s price could continue to fluctuate within the accumulation range.
Why This Matters
As the meme coin market enters a “rediscovery” phase, it’s more important than ever to keep an eye on key technical indicators and social sentiment. Shiba Inu (SHIB), once considered the “Dogecoin killer,” has a chance to rewrite history if current bullish signals are confirmed.