The analyst predicts a price increase of 260%.

• The analyst reveals that Shiba Inu (SHIB) could build bullish momentum from the current correction and post a 260% gain.
• Another analyst hints that the asset could reach $0.000081 after successfully breaking the resistance range of $0.000024 and $0.000030.

Shiba Inu (SHIB) decreased by 25.6% since it hit a monthly high of $0.00003328. According to our market data, the asset is currently trading at $0.00002208, with $387 million at press time. Meanwhile, whales are aggressively piling up the decline, suggesting renewed confidence and a potential bullish reversal.

Analyzing the recent transactions of large holders, we noticed that the wallet pulled a whopping $4.63 million worth of Shiba Ina from Binance for self-custody. Further analysis of the address revealed that this whale had been dormant for five months. Meanwhile, the asset struggled to break the key resistance level at $0.000025.

According to data from IntoTheBlock, Shiba Inu faces two major obstacles in the $0.00003 price zone – $0.000023 and $0.000024. Within this range, 42,310 addresses bought a total of 60.44 trillion SHIB tokens. From this level, the more important resistance lies between $0.000024 and $0.000030, where 208,010 addresses bought 70.35 trillion SHIB.

Subjecting the asset to further price analysis, analysts noted that the current pullback is an important step for explosive growth. According to the price chart, the asset successfully held its position above the $0.00002 support, preventing further declines amid a broad market liquidation. Meanwhile, the Relative Strength Index (RSI) shows that the dog-themed meme coin has more room to grow, with a reading of 56.81.

Analyst Confirms Bullish Shiba Inu (SHIB) Thesis.

Confirming this upcoming rally, crypto analyst Javon Marks revealed the existence of “textbook bullish signals” on the Shiba price chart. According to his observation, the asset has just broken out of the long-term trend line, retesting it as support in the recent correction.

According to him, SHIB could gain 260% to $0.000081 in the short term. Additionally, Marks spotted a hidden bullish divergence characterized by higher lows and lower lows for momentum. For SHB to reach the projected level of $0.000081, it would first have to break through $0.00003. A break above the $0.00081 level could position the asset at $0.000155.

Earlier, analyst Astekz pointed out that SHIB has formed a cup and handle pattern on its weekly chart. Meanwhile, we found that the formation was between March and November 2024, which led to an initial rise to $0.000045 before starting to decline. According to this analyst, the asset could go up to $0.00003237 in the short term.

By studying other data, we discovered that the active increase in the Shiba Inu burn rate supports these optimistic theses. As of December 25th, the burn rate has increased by approximately 97%, eliminating 6.26 million SHIBs from circulation. It is important to note that around 410 trillion SHIBs have been eliminated since the burning exercise began, reducing the total supply to 589 trillion SHIBs from the original quadrillion tokens.