Shiba Inu Inverse Head & Shoulders Signals 540% Rally
Shiba Inu has formed an inverse head and shoulders pattern on its 5-day chart, signaling a potential 540% rally to $0.000081. According to analyst Javon Marks on X, the formation began in mid-2022, with the left shoulder forming between July and December 2022 and the head in September–November 2023. The token is now shaping its right shoulder ahead of a possible breakout.
A confirmed surge would bring SHIB close to its $0.00008616 all-time high and could set new records. Current trading sits near $0.00001263, down 2.8% in 24 hours. Traders should watch for increased volume and a support bounce to validate this bullish reversal pattern.
Bullish
An inverse head and shoulders pattern is a classic bullish reversal in technical analysis. Similar patterns in major cryptocurrencies often preceded significant price rallies. For example, Bitcoin formed a comparable setup before the 2020 bull run. If SHIB confirms its breakout with higher volume, traders may see a swift short-term rally and renewed long-term confidence. However, volume validation and support retests are critical to maintain momentum. Overall, the pattern suggests a bullish outlook, potentially driving SHIB toward new highs based on historical precedents and prevailing market sentiment among cryptocurrency traders.