Shiba Inu Targets 244% Price Surge From Descending Triangle Breakout

Shiba Inu is trading near $0.00001017, with a descending triangle pattern signaling a potential breakout.

A confirmed move above $0.00001200 could trigger a rally toward $0.00003500, marking a 244% price increase.

Holding above the $0.00001000 base is key for maintaining the bullish setup and targeting higher resistance levels.

Shiba Inu (SHIB) traded at $0.00001017 as it approached the apex of a long-term descending triangle structure. The technical chart suggests a possible breakout that could target a 244.24% price increase, projecting SHIB toward the $0.00003500 level if confirmed. This projection is based on the measured move from the widest section of the pattern.

Descending Triangle Setup on Long-Term Chart

The 16-hour SHIB/USDT chart from Gate.io displays a descending triangle pattern with a horizontal base and a gradually declining resistance trendline. This structure has developed over an extended period, compressing price action into a narrowing range.

The upper resistance line has repeatedly capped rallies since SHIB’s previous peaks, while the base support has held near the $0.00001000 zone. Each bounce from this support level has seen reduced highs, reinforcing the descending triangle’s validity.

A confirmed breakout above the descending trendline would invalidate the bearish implications often associated with this formation. Instead, it could initiate a bullish continuation toward the projected upside target.

Price Levels and Measured Move Projection

At $0.00001017, SHIB is positioned near a decisive point where a breakout or breakdown is likely in the coming sessions. The key resistance to watch lies along the descending trendline, which intersects near the $0.00001200 mark.

The measured move from the pattern’s height suggests a possible rally of 244.24%, with $0.00003500 as the primary target. This projection aligns with the height between the triangle’s base and peak before consolidation.

Volume analysis will be essential in validating the breakout. A high-volume surge above resistance could confirm the bullish setup and attract greater market participation.

Critical Support and Resistance Zones

The immediate support remains anchored at $0.00001000, serving as the structural base of the descending triangle. A close below this level could shift market sentiment toward further downside pressure.

Conversely, breaking and holding above the $0.00001200 resistance could trigger momentum toward interim targets near $0.00001800 before testing the $0.00003500 projection. Sustaining such a move would require consistent buying interest to offset potential profit-taking.

Market participants are now asking a pivotal question: will Shiba Inu secure enough momentum to deliver a 244% breakout from its current consolidation?

The technical outlook provides a clear framework—maintain support at the base, break the descending resistance, and open the path toward the projected target. With the pattern nearing its completion, SHIB traders will monitor upcoming sessions for a decisive move that could define the next major market direction.