The target price analysis for Shiba Inu actually shows that the token could rise by over 1,000%, reaching $0.000150, while the trading of this meme token is currently in a tight weekly triangle formation. Shibarium breaking through the $1.5 billion mark indicates strong network adoption, with over 1.5 billion transactions. Despite some risk factors in the Shiba Inu market, the Shiba Inu price prediction model still shows significant upside potential.
Shiba price target insights, Shibarium milestones, and market risks
The triangle formation shows potential for Shiba price targets
The target price for Shiba Inu is $0.000150, derived from technical analysis that reveals a multi-year weekly triangle formation. Crypto Crew University's chart analysis shows that SHIB is currently trading within this formation, with key support at $0.00001045 and resistance at $0.00001678.
Crypto Crew University commented on this as follows:
"Coiling within a giant triangle, close to S1 potential bullish area (NFA), breaking through R1 and POC = moving being measured"
To truly achieve a bullish Shiba price prediction, SHIB needs to close above the upper boundary of the triangle on a weekly basis. This trend will target a prediction value of $0.000150, which corresponds to an increase of about 1,053% from current levels.
Shibarium Milestone drives Shiba Inu technical analysis
Analyst Javon Marks stated:
SHIB has not yet escaped the divergence confirmed earlier this year, and the price may just be preparing for a rise triggered by this! Given this divergence, the price of Shiba could rise by more than 156%, reaching a level of $0.000032, which may just be the beginning of a larger reversal.
The $1.5 billion milestone of Shibarium reflects sustained strong network activity, with over 12.4 million blocks processed and 2.6787 million addresses created. This growth in infrastructure actually supports Shiba Inu technical analysis, which indicates a potential breakout scenario currently exists.
Market risk factors affect Shiba price targets
Despite optimistic predictions, the risk factors in the Shiba Inu market include a decrease in the burn rate and a reduction in whale token holdings. The burn rate has decreased by 72%, with only 181,928 tokens remaining, while whale token holdings have remained stagnant at 104.68 billion tokens since July 21.
Shibarium developers announce:
Shibarium has now moved to a new location. We have completely migrated from shibarium.shib.io to shib.io/shibarium. Please bookmark the new link to avoid counterfeits.
The total locked value of the network has actually decreased by 10% to $1.75 million, which poses a challenge to the optimistic Shiba price prediction model. However, the achievement of Shibarium milestones and the upcoming Layer-3 development (which has raised $12 million through partnerships with Animoca Brands and Polygon Ventures) may support future price targets.
At the time of writing, the conditions for a technical breakout may help SHIB achieve the Shiba Inu price target.
