Shiba Inu Nears Falling-Wedge Breakout; Analysts Eye 112%–274% Upside Targets
Shiba Inu (SHIB) shows signs of a major bullish reversal as price action approaches the apex of a multi-month falling wedge. SHIB has gained about 14% this week and roughly 18.4% from its recent low of $0.00000755. Technical analysis cited (Bitcoinsensus) maps a wedge formed from a September 2024 low (~$0.0000129) to a December 2024 high ($0.00003343). The reported breakout point sits near $0.0000110. If SHIB breaks the wedge and retests the channel top, analysts project an initial 56.5% move to ~$0.000014 followed by a potential 112.5% rally to ~$0.000019. A full retest of the December high ($0.00003343) would imply ~274% upside from current prices. Other analyst targets mentioned include an aggressive long-term target of $0.000088. The piece notes a failed breakdown last week that reversed and put price back inside the wedge. Disclaimer: content is informational, not financial advice.
Bullish
The article describes bullish technical setups — a falling wedge approaching breakout, recent price rebound (14% weekly, ~18% from low), and specific upside targets after a predicted breakout and retest. Falling wedges are classic reversal patterns; a confirmed breakout followed by a retest often leads to accelerated buying. The presence of a failed breakdown (false break) that reversed back into the wedge increases the probability of a squeeze as trapped sellers cover. Short-term impact: increased volatility and likely upward momentum if breakout above ~$0.0000110 occurs, producing quick gains toward the $0.000014–$0.000019 range; traders may look for breakout confirmation and retest signals to enter. Long-term impact: if SHIB reclaims and sustains levels above the December 2024 high ($0.00003343), it would signal a structural trend change and open larger targets (the article cites $0.00003343 and an aggressive $0.000088). Risks: technical patterns can fail — a decisive rejection at wedge resistance or a broader market sell-off could negate the setup. Similar past events: meme-coin squeezes after false breakdowns and wedge breakouts (e.g., previous SHIB and DOGE moves) produced rapid short-term rallies but also rapid pullbacks; risk management and watch of market-wide liquidity are essential.