Technical analyst Javon Marks reiterated his breakout target for Shiba Inu, which would indicate its current level is approximately 528%.
In this bullish forecast, Shiba Inu's trading price is $0.0000126, down 0.4% from the date's high. Over the past 7 days, the meme coin has also fallen by 7.4%, despite the longer timeframe.
Path to $0.000081.
Despite its strong performance, cryptocurrency analyst Javon Marks reiterated his earlier prediction that Shiba Inu's price could reach $0.000081 during this cycle.
This comes after a successful retest of breakout levels, with Shib's price surge reaching a seven-month high of 0.00003329 in December 2024.
According to the data, this correction phase is anticipated and confirms Shib's technical structure. Since then, the currency price has been fluctuating, trading at approximately $0.00001290.
However, by the end of 2024, the price above $0.00002 has increased confidence in the ongoing structure. This electric water level is now seen as a basis for further upward potential, as analysts predict a 528% surge is imminent.
The technical structure supported by bullish divergence.
Shib's candlestick chart shows the formation of hidden bullish divergence, which is often seen as a sign of potential strength. This pattern occurs when price action makes higher lows, while indicators like RSI or MACD form lower lows.
Marks noted that this divergence indicates increasing buying pressure, even as momentum indicators reflect short-term weakness. This setup typically leads to the continuation of the existing trend.
Maintaining above breakout levels while forming higher lows can enhance Shib's technical positioning. Market observers are watching for a breakout from the current consolidation, which, if accompanied by increased volume, could push the token to higher resistance levels.
The growth of long-term holders reflects investor confidence.
Data from IntoTheBlock confirms an increase in long-term holders of wet skins who have held their tokens for over a year. These long-term holders have been steadily increasing since mid-2022 and continue to do so into early 2025.
This growth occurs during both uptrends and corrections, indicating consistent accumulation. The increasing base of long-term holders can alleviate selling pressure, thereby supporting price stability and helping to maintain key support areas.
It is noteworthy that the number of short-term traders holding for less than a month has decreased by 36.5%.
Shiba Inu balance held over time.
The decline in speculative behavior is often associated with reduced volatility, indicating that SHIB is becoming a more mature asset in the market.
Holders of cruisers or those with holding periods of one to twelve months have increased by 3.15%. This trend supports the view that investors are shifting from short-term trading to medium- and long-term positions.
The increase in burning activity has heightened bullish sentiment.
Elsewhere, according to Shibburn data, Shib's token burning activity has surged dramatically. In the past 24 hours, 2,219,043 wet wipe tokens have been burned, marking an increase of 278.42%. In the past 7 days, 313,950,965 tokens have been removed from circulation - a 324.14% increase.
Lastly, let's not forget to follow along; let's achieve financial freedom together in this bull market, alright!
