Here’s Why This Analyst Predicts Shiba Inu 568% Surge

Popular community member Heber Mayen suggests that Shiba Inu is poised for an explosive breakout.

The chart shows Shiba Inu consolidating within a long-term descending triangle pattern, with successive lower highs forming since its peak at $0.00008845. Per the chart, Shiba Inu has reached the extreme low point of the triangle, signaling that a decisive breakout is imminent

Although optimistic about an upward breakout, Mayen did not specify a target price for the token. Moreover, he provided no timeline for when Shiba Inu could make the bullish breakout

In the meantime, Shiba Inu is currently changing hands at $0.00001323 per token, down 1.33% over the past 24 hours. Over the past week, Shiba Inu has plunged by 1.03%. Meanwhile, it maintains a positive monthly performance with an 8% gain.

Is Shiba Inu ATH Incoming?

The accompanying chart shows that Shiba Inu has been consolidating within the $0.00001270 – $0.00001347 support zone in recent weeks. Notably, he anticipates a rebound from this support zone that could ignite a sustained uptrend

With sustained momentum, he projects SHIB could set a new all-time high, potentially surpassing the October 2021 peak of $0.00008845. Surpassing the previous ATH demands a 568% surge from the current level of $0.00001323. This move will ultimately push the token’s price to $0.0000885