Shiba Inu ($SHIB) Prepares for Liftoff, as a Crypto Analyst Declares a Potential 264% Surge

Shiba Inu Bullish Analysis In a post on X (formerly Twitter) on Tuesday, Marks shared a detailed analysis of Shiba Inu's price action, which shows the token finishing the year with a “major breakout.”

Shiba Inu ($SHIB) prepares for liftoff, as a crypto analyst declares a potential 264% surge, fueled by a “major breakout” and definitive bull signals that ignite the market.

Shiba Inu Bullish Analysis

In a post on X (formerly Twitter) on Tuesday, Marks shared a detailed analysis of Shiba Inu's price action, which shows the token finishing the year with a “major breakout.” Marks highlighted that the token is “holding broken out” from previous resistance levels, indicating a solid technical foundation for further price movement.

According to his chart analysis, SHIB could reach a target price of $0.000081, reflecting a potential 264% surge from its current price of $0.00002221. Marks' prediction is rooted in technical analysis, which identifies “bull signals” from lower time frames, particularly around areas marked by breakout and retest zones.

The chart, which Marks shared, displays key indicators such as horizontal price targets, uptrend lines, and breakout points—each reinforcing his bullish outlook. The price target of $0.000081 represents a significant resistance level, which, if surpassed, could trigger the rally.

Why This Bullish Momentum May Be Real: Technical Indicators at Play

Marks' analysis draws attention to multiple bullish factors:

Shiba Inu (SHIB) price is set to explode higher from a breakout and retest zone on the lower time frame. This technical element is often used to identify strong support or resistance levels that could influence price direction.

The breakout from previous resistance is another crucial aspect of Marks' analysis. When a cryptocurrency breaks out and holds above a resistance level, it usually indicates bullish pressure and can lead to further price increases.

Bull signals from lower time frames also play a role in Marks' bullish outlook. These signals, typically identified on 15-minute or 30-minute charts, can provide early indications of upcoming price movements.

With these technical elements in play, the prediction of a 264% surge is not unfounded for those who closely follow chart-based predictions.

Market Context: Is SHIB Ready for a Major Rally?

As of 4:10 a.m. ET on Thursday, Shiba Inu ($SHIB) traded at $0.00002221, indicating a 5.15% increase on the day. This positive movement was accompanied by a 3.92% rise in 24-hour trading volume, reaching $395.44 million, suggesting increased market activity and investor interest.

While the token experienced a slight 0.94% increase over the past seven days, it also saw a more substantial 25.11% decline over the past month, indicating recent market volatility. According to figures from CoinMarketCap, Shiba Inu has a circulating supply of 589.5 trillion SHIB and a market capitalization of $13.08 billion, reflecting the 5.15% increase on the day.

These figures suggest a mixed picture for the cryptocurrency, highlighting a recent rebound in the short term while also showing the effects of a longer period of downward pressure.