Shiba Inu (SHIB) Price Prediction: 81% Breakout Could Push Price to $0.000023

Despite facing some price drops analysts predict a massive breakout could push its price up by 81% due to rising whale activity and an increasing burn rate.

In the dynamic realm of cryptocurrencies, Shiba Inu (SHIB) has emerged as one of the most popular tokens among investors.

Having initially started as a meme coin, SHIB has now become a household name, renowned for its playful beginnings and subsequent rise to prominence.

At present, SHIB is trading at $0.0000127, managing to stay afloat above the crucial support level at $0.0000125. Despite encountering some price drops, analysts predict that a massive breakout could propel its price upwards by 81%.

This prediction is fueled by observations of rising whale activity and an increasing burn rate, both of which are closely monitored by traders.

As we delve into the technical analysis of SHIB, we observe the formation of a falling wedge pattern in the 1-day chart. This pattern is typically viewed as a bullish reversal signal, particularly after a sustained downtrend.

Since December 2024, SHIB has been moving within this downward-sloping wedge, characterized by lower highs and lower lows. However, the price is now testing a breakout level at $0.0000129, which could be pivotal for determining the future trend.

If SHIB manages to break out of this pattern, it could set the stage for a substantial rally, with the first target at $0.000019, marking a 52.32% increase from the breakout level. A successful breakout above this resistance could propel SHIB even further, aiming for an 81.63% surge from the breakout point.

This would bring the price to around $0.000023, a significant milestone in SHIB’s price journey.

CryptoELITES Predicts 17x Rally For Shiba Inu

Aligning with the bullish outlook, crypto analyst CryptoELITES anticipates a short-term price surge for SHIB, predicting a massive 17x rally. In a recent analysis, the analyst broke down the technicalities of SHIB’s price movement.

According to the analyst, SHIB is currently exhibiting a "C-wave" in Elliott Wave Theory, which is usually the final and largest wave in a five-wave structure.

This theory, developed by Charles Dow and later popularized by Elliott, attempts to identify crowd psychology in financial markets.

CryptoELITES explained that the C-wave is typically a strong move in the same direction as the A-wave. In this case, both the A-wave and C-wave are advancing, indicating a broader uptrend.

The analyst said that the C-wave should ideally be about 1.618 times the length of the A-wave. In this case, the A-wave measured around $0.000007, while the C-wave should ideally reach $0.000011.

However, if we use the Fibonacci sequence, the C-wave could also reach $0.000014, which is the level where 236 billion SHIB tokens are waiting.

Shiba Inu Levels To Watch

As SHIB attempts to recover, it is closely trading within a tight range, shifting between $0.0000125 for support and $0.00001365 for resistance.

A break above the $0.000014 resistance could pave the way for a rally to $0.000019, where another level of resistance lies. At this level, a staggering 548 trillion SHIB tokens have been accumulated.

On the flip side, if SHIB fails to hold the $0.0000125 support, it could slide to $0.0000115.

Despite struggling to maintain bullish momentum due to repeated rejections at the $0.000014 level, SHIB has managed to stay afloat, largely thanks to the massive buying activity observed at lower price bands.

This indicates that despite the price declines, there is still strong interest from buyers, who are stepping in to snatch up SHIB tokens as the price drops.

As long as this buying pressure persists, it could help to mitigate any further downward pressure on the token price.

A recent spike in whale activity has brought renewed attention to Shiba Inu.

After a period of relative inactivity, big players are showing interest in SHIB again, with several large transactions observed over the past few days.

One whale was spotted transferring a massive 7.49 trillion SHIB in a single transaction, the highest volume seen in two months.

This massive transfer was valued at over $932 million at current prices, highlighting the sheer scale of activity among institutional investors in the crypto market.

Moreover, data from the SHIB token burn website shows that the burn rate has sky