The meme token Shiba Inu (SHIB) is once again in the spotlight thanks to bold predictions. Popular community member Heber Mayen suggested that the cryptocurrency is on the verge of dramatic growth, potentially delivering a 568% rally.
Consolidation in a Triangle: A Signal of Impending Breakout
In a recent post on X, Mayen shared a monthly price chart of Shiba Inu showing the token had gained 3.65% over the past 30 days, reaching $0.00001345.
According to the chart, SHIB has long been consolidating within a descending triangle pattern, with lower highs forming since its all-time peak of $0.00008845 in October 2021. Now, Mayen argues, the token has reached the extreme bottom of the formation – often a sign that a decisive breakout could be near.
While Mayen did not specify a target price or timeline, his optimism is echoed by a growing segment of the community.
Current Price and Short-Term Performance
At the time of writing, Shiba Inu is trading at $0.00001323, down 1.33% over the past 24 hours and 1.03% in the past week. Still, the token maintains a monthly gain of over 8%.
Analysts highlight the $0.00001270 – $0.00001347 support zone as crucial for the token’s next move.
Community Betting on a New All-Time High
Another community analyst, Shib Spain, is similarly bullish, suggesting SHIB may rebound from this support area. Such a move could trigger a sustained uptrend and push the token toward a new all-time high (ATH).
To surpass its previous peak of $0.00008845, SHIB would need to rise 568% from its current price of $0.00001323. A successful breakout could lift the token to around $0.0000885, rewriting its price history.
Conclusion
Shiba Inu once again stands at a crossroads, with technical signals and community sentiment pointing to the possibility of explosive growth. The combination of long-term consolidation, strong support, and widespread optimism creates a scenario where this meme token could reclaim the spotlight as one of the market’s most talked-about assets.
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