Shiba Inu (SHIB) could be gearing up for a significant rally, with bullish patterns pointing to a potential 150% price surge. A crypto expert has identified rising highs and strong support levels as key indicators for an explosive move in the meme coin's price.
### Shiba Inu Price Targets a 130% Rally
TradingView analyst Klejdi Cuni recently presented a detailed chart analysis highlighting a bullish setup for Shiba Inu. The expert noted that SHIB’s daily highs have been steadily increasing, forming a clear upward trajectory within an oval chart pattern.
For the past month, Shiba Inu has consistently found firm support around the $0.00002424 level. According to Cuni, this repeated support test indicates an **accumulation zone**, where buyers step in to prevent further price drops.
### Key Price Levels and Targets
The analysis outlined several ambitious price targets for SHIB:
1. **First Target:** A 130% rally to $0.00003232.
2. **Second Target:** A move to $0.00004167, contingent on maintaining momentum.
3. **Third Target:** Breaking past $0.000041 could push SHIB to $0.00005675.
4. **Final Target:** If the rally holds, SHIB could reach $0.00007012, marking the peak of the analyst's charted goals.
These price levels suggest a parabolic rise for Shiba Inu once key resistance points are breached. However, even at $0.00007012, SHIB would remain below its all-time high of $0.000086, achieved during the meme coin frenzy of 2021.
### Current Market Performance
At the time of writing, Shiba Inu is trading at $0.000028, down 8% over the past week, according to CoinMarketCap. Despite the recent pullback, SHIB has been one of the standout performers in this bull market, recently breaking above $0.00003.
In a chart posted on X (formerly Twitter), Cuni highlighted SHIB's price action from May 2022 to the present. He noted that a breakout above $0.00003285 could set the stage for an explosive rally, potentially reaching a new all-time high of $0.00008852.
### Conclusion
While the current market sentiment remains cautious, the bullish patterns and strong support levels identified by experts hint at a bright future for Shiba Inu. If the predictions hold true, SHIB could be on the verge of a significant breakout, solidifying its position as a top-performing meme coin. $SHIB