Kamran identified the smallest Shiba Inu breakout pattern for the third time.
Shiba Inu has accumulated since late January after falling to the support level of $0.00001471.
The target of $0.0000900 will achieve a new record level with a gain of 619%.
Analyst Kamran identified the smallest recurring pattern of consolidation and impulse on the weekly chart of Shiba Inu, which could lead to another equivalent price expansion.
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This pattern includes extended accumulation phases followed by sharp upward movements, which has occurred twice since 2021 according to his technical analysis.
The last consolidation phase began in late January after Shiba Inu fell to $0.00001471, leading to what Kamran described as a rectangular trading range. This accumulation period lasted several months, similar to previous cycles that preceded significant increases in cryptocurrency prices.
A historical pattern shows a gain of 501% from the previous breakout.
The previous accumulation phase extended until February 2024, when Shiba Inu broke through the price and rose to $0.00004563 in March 2024. A smaller analysis of the chart indicates that this breakout led to a price increase of 501% from the lowest levels of the consolidation range.
The analyst suggests that this pattern creates a framework for predicting potential future performance if the current consolidation phase ends with an upward breakout. Historical precedents show that these accumulation periods can last for extended periods before improvement occurs.
However, technical analysis patterns do not guarantee future performance, and cryptocurrency prices remain highly volatile and subject to market-driven movements that may not follow historical patterns.
The target of $0.0000900 will achieve new record numbers.
Kamran targets a price around $0.0000900, representing a 619% increase from current prices around $0.0000251, marking a new all-time high for Shiba Inu. This target assumes a repetition of the consolidation and breakout pattern similar in size to previous cycles.
The analyst believes that the current accumulation phase may be nearing its end, although the precise timing remains uncertain. Confirmation of the breakout requires sustained trading above the defined resistance range levels.
These ambitious price targets require significant buying pressure and market participation, which may not be achieved even if the technical conditions appear favorable. Cryptocurrencies face unique challenges in maintaining significant highs without fundamental developments or sustained community involvement.$SOL