Shiba Inu shows signs of a stronger rebound as market momentum shifts back toward bullish sentiment. The meme coin moves higher after recent reversal signals restored confidence among traders. Analysts say the latest recovery places SHIB on a clear path toward a potential falling wedge breakout. The developing structure now drives discussions about a larger move that could extend into multi-month highs.
Wedge Formation Positions SHIB for a Breakout
Shiba Inu’s rebound intensifies after the token gained more than 14% this week and climbed 18.4% from last week’s low of $0.00000755. Analysts at Bitcoinsensus reported that SHIB sits inside a tightening falling wedge on the weekly chart, which has guided the token’s price action since September 2024. They noted that the structure began when SHIB formed a lower low around $0.0000129, creating a key support zone that later shaped the wedge’s lower trendline.
From that level, Shiba Inu advanced to its December 2024 high of $0.00003343, which established the upper resistance trendline. Bitcoinsensus explained that SHIB recently retested the wedge’s lower boundary during its latest drop. The analyst added that the token even produced a brief fake breakdown before a strong rebound this week restored the pattern. According to their outlook, SHIB now aims toward the upper resistance and could approach the breakout point near $0.0000110.
Source: X
The forecast suggested that Shiba Inu would eventually clear the supply zone and release the momentum built up during several months of price suppression. Bitcoinsensus projected that a breakout would trigger a rally toward $0.000014, representing a potential 56.5% move. They also mentioned that a pullback would likely follow as the price retests the channel’s upper boundary to confirm the breakout.
Analysts Outline Upside Targets After Confirmation
Based on the falling wedge structure, Bitcoinsensus expects an initial 112.5% surge toward $0.0000190 once the retest completes. They emphasized that a typical falling wedge often leads to a return toward the structure’s previous high. For SHIB, that high aligns with the December peak of $0.00003343, which marks a potential 274% rise from the current price area.
This target also matches an earlier projection from analyst Kamile Uray. In her Thursday outlook, she identified $0.00003343 as one of her key price objectives and pointed to a possible continuation toward $0.000088 as the long-term move. Her prediction supports the broader sentiment that Shiba Inu could regain strong momentum if the wedge breaks decisively.
Source: X
The memecoin trades at $0.000008512 at press time, suggesting a 3.84% decline in the last 24 hours.
SHIB price chart, Source: CoinMarketCap
Source: https://coinpaper.com/12746/shiba-inu-about-to-explode-274-this-chart-pattern-says-yes
