Price Prediction for $SHIB: Analysts Predict SHIB Will Rise 17 Times

Shiba Inu has gone through a chaotic market phase, struggling to regain upward momentum after falling nearly 18% in the past 30 days. Despite the recent price drop, analysts remain optimistic about the significant breakout potential of this token. SHIB is currently trading at $0.00001269, with a slight growth over the past 24 hours. However, market experts believe that this could be the calm before a major price surge. Cryptocurrency analyst Crypto ELlTES has pointed out that SHIB is firmly in a strong buying position, with the potential for a significant move in the near future. The idea of a 17x increase is attracting the attention of investors as they see the current price as a perfect accumulation point.

To support this bullish sentiment, ZAYKCharts explains that SHIB is breaking out of a descending wedge pattern on the daily chart, a classic technical indicator for trend reversal.

This opinion was also raised by Javon Marks when he stated that the breakthrough point of SHIB remains at $0.000081. Based on his recommendation, if the upward momentum continues, this token could rise nearly 500%.

Speaking more about this, Marks describes the ability of SHIB to maintain important support levels regardless of price action. He describes the recent rejection at lower prices as a reflection of strong demand, further enhancing the potential for a sustainable bullish rally. The accumulation signal of whales reinforces the market's confidence. On-chain data also supports growing optimism for SHIB. According to IntoTheBlock, a total of 123.27 trillion SHIB are currently in profit, accounting for 36.95% of the circulating supply. This indicates that a large majority of SHIB holders are ready for a price increase.

Additionally, Glassnode data shows an attractive trend among initial SHIB buyers. These investors have purchased more than 20% of the total supply of the token at low prices and have sold off their holdings at the market's highest prices. This time-concentrated ownership pattern shows that whale activity plays an important role in the price fluctuations of SHIB.

The most significant change is the incredible 2025% increase in the flow of money into whale wallets. Whale wallets have absorbed approximately 6.26 trillion SHIB as of March 20, and people are curious about the potential impact of this accumulation. Such activities usually imply two possible reasons: large investors may be accumulating tokens to push the price up high, or they may be transferring their holdings to cold storage after accumulating on centralized exchanges.

The activities of this whale are particularly important, as larger players will enter the market strongly after a significant correction. If history repeats itself, this could be the bottom of the market, paving the way for a sustainable upward trend. SHIB aims for $0.0001553 as bullish signals confirm the breakout Analysts have laid out ambitious price targets for SHIB, with the most optimistic forecast reaching up to $0.0001553. Javon Marks emphasizes that SHIB has confirmed bullish signals and has surpassed key resistance levels, setting the stage for a potential rally of up to 840%.

Despite the recent sideways price movement, the overall market sentiment indicates that SHIB's consolidation phase could contribute to extending the upward trend. Marks argues that this extended stable phase could strengthen the foundation for a breakout in the future at the resistance level of $0.000081. If SHIB successfully surpasses this level, the path to $0.0001553 will become more feasible.