Is the Shiba Inu about to explode? Analysts predict SHIB price could surge by 156%!

The Shiba Inu token has performed well recently, with analysts suggesting that this "meme pet" of the crypto world may be on the verge of a major bullish breakout, potentially witnessing an astonishing 156% increase in the coming weeks!

Shiba Inu's "bullish code": Two classic patterns emerge

The past week has been tumultuous for the meme coin Shiba Inu, ranked second by market cap. On December 1, the coin surged to a key resistance level of $0.00003300 but unfortunately retraced due to heavy selling pressure, currently trading around $0.00002968. However, analysts remain optimistic, believing that Shiba Inu is on the brink of a potential explosion.

Interpretation by Shib Knight

Notable analyst Shib Knight pointed out that the SHIB/USDT chart is forming a classic "ascending triangle" pattern. This is a typical bullish structure, and as the triangle approaches its apex, the likelihood of a price breakout significantly increases. He predicts that the price of Shiba Inu could surge by about 28.92%, hitting the $0.000040 level.

Support viewpoint from Guru Asymmetric

Another analyst, Guru Asymmetric, observed a "descending triangle" pattern on the weekly chart since the historical high in 2021. He believes that this pattern, which has persisted for months, is brewing a monumental breakthrough. If Shiba Inu breaks through the current resistance of $0.000033, it could soar to a high of $0.00007593. Mid-term targets are set at $0.00003567, $0.00004244, and $0.00005105.

Short-term setbacks, unlimited long-term potential?

Despite a more than 5% pullback in Shiba Inu over the past 24 hours, technical indicators show that bullish momentum is building, and a rebound may be imminent. Especially as the overall market sentiment warms up, Shiba Inu's bullish pattern presents a promising opportunity for investors.

The current key resistance level is $0.000033. Once successfully broken, this will open up significant room for price increases. And all of this could be the opportunity for Shiba Inu to once again step into the public eye.