Shiba Inu at ’Prime Buy Zone’—Analyst Spots Repeating Fractal Pattern

Another day, another crypto analyst tossing fractal tea leaves into the charts. This time, it’s Shiba Inu in the crosshairs—with claims of a ’great buy’ opportunity based on historical price movements repeating like a broken record.

Pattern recognition or wishful thinking? Either way, the meme coin’s army will lap it up. After all, what’s crypto without a little hopium between rug pulls?

SHIB Price AnalysisSHIB Price Analysis The doggy-themed meme coin is trading below a falling trendline, which kicked in after its early December high of $0.00003343, with its recent uptrend drawing it closer to the tip of the supply zone. While the analyst admitted that the asset faces strong resistance at this point, he stated that a break above $0.000014 would ensure Shiba Inu enters a consolidation phase again. Per the chart, SHIB would target the ascending trendline, where it peaked in the last cycle upon breakout. Notably, this trendline currently lies above $0.00010, suggesting a rally of over 607% from the current market price if SHIB captures it. Interestingly, analysts like “illagodzilla” and “Cap. Parabolic Turbulence” support this price target, with the commentators predicting a rally to $0.000173 and above $0.00010, respectively. Shiba Inu Targets $0.000015 Next? Meanwhile, analyst Lingrid has highlighted positive Shiba Inu price actions, suggesting further upside. In a Wednesday analysis, he stressed that the bullish momentum would push SHIB back towards March’s price high. She stressed that Shiba Inu formed a double bottom in early April and has bounced from the support around $0.00001028 to trend on an ascending wedge. Most recently, it retested the bottom of the trendline, with the support at $0.00001250 holding firm. Moreover, the token regained momentum from this support to break and close above another crucial support level at $0.00001313. Amid the momentum, the analyst predicts further upsides, with the next target an uptick to $0.000015.

Shiba Inu AnalysisShiba Inu Analysis In the meantime, SHIB trades at $0.00001414, up 3% today.