Shiba Inu (SHIB) Price Prediction: Can the Meme Coin Stage a Strong Recovery in February?

Despite its recent downturn, multiple indicators suggest the meme coin could stage a strong recovery—potentially gaining 80% in February.

Shiba Inu (SHIB) has had a turbulent 2023, with a recent downturn pushing the meme coin to lows of $0.000015. However, despite the setback, multiple indicators suggest that SHIB could stage a strong recovery — potentially gaining 80% in February.

Key factors supporting this bullish outlook include a falling wedge breakout, increasing on-chain activity, and the anticipation of a game-changing partnership.

1. Shiba Inu’s Falling Wedge Pattern Signals a Reversal

According to technical indicators, SHIB is reaching a pivotal point. The asset has formed a falling wedge pattern, a widely known bullish reversal setup. In history, SHIB has recorded big rallies after the same setup; hence, a breakout higher could thrust the price to its 2024 high of $0.00003325, an 80% jump from current levels.

A potential bullish breakout of the current bearish trendline could validate the falling wedge pattern. Source: Hazzac01 on TradingView

Adding to this bullish setup is Shiba Inu’s Relative Strength Index (RSI), which currently hovers near oversold territory. Also, having touched 36 from its November high of 82.7, the RSI has drawn closer to the oversold line of 30. This area had been reached last in August 2023, after which SHIB jumped up 200%. If history repeats itself, SHIB’s rebound could be stronger than expected.

2. Rising Shibarium Transactions and Whale Accumulation

On-chain data paints a promising picture for Shiba Inu’s future. Despite a decline in active retail addresses, the Shibarium network—the Ethereum layer-2 solution for SHIB—has seen explosive growth. According to ShibariumScan, transactions on the network have surpassed 863 million, with total addresses exceeding 2.01 million. At this pace, the network could reach 1 billion transactions in Q1 2025.

Shibarium: Built for AI, big data, and DeFi—own the road, own the spotlight. Source: Rajesh via X

Activity on Shibarium also constitutes a very important part of SHIB tokenomics, wherein part of the gas in BONE, Shibarium’s native token, is converted into SHIB and burned. This already constitutes one strong deflationary mechanism that has removed billions of SHIBs from circulation, reducing supply pressure.

Meanwhile, large investors—commonly referred to as whales—continue accumulating SHIB. Recent data shows that whales hold about 58% of the total circulating supply. In a notable transaction earlier this week, a single whale purchased 275 billion SHIB, signaling confidence in an upcoming price rally. Historically, whale accumulation has preceded major price recoveries, as these large investors often position themselves ahead of retail traders.

3. Anticipation Builds Over Shiba Inu’s Major Partnership

The lead developer of Shiba Inu, Shytoshi Kusama, teased a recent partnership of “extreme power” that will change the landscape for Shibarium and, by extension, the wider crypto market. Details have not been shared, but he suggested this deal may be beyond SHIB itself and impact other key ecosystem tokens, including LEASH, TREAT, and BONE.

Shiba Inu ecosystem assets—SHIB, BONE, and LEASH—now follow the CCT standard, enhancing their interoperability across blockchains. Source: Chainlink via X

This follows Shiba Inu’s recent partnership with Astra Nova, which integrates Web3 gaming and artificial intelligence into the SHIB ecosystem. The growing mainstream utility of the project has driven optimism, while a high-impact partnership may seal Shiba Inu for long-term growth.

SHIB Price Outlook: Key Levels to Watch

Despite these bullish catalysts, SHIB must break above critical resistance levels to confirm its recovery. The first key level to reclaim is $0.00001990, which previously acted as strong support. If SHIB can flip this resistance, it could target $0.00002078 and $0.00002200, setting the stage for an 80% rally toward $0.00003325.

Shiba Inu (SHIB) price chart. Source:Brave New Coin

However, failure to maintain upward momentum could lead to another retest of the $0.00001700 support zone. A breakdown below $0.000016 would invalidate the falling wedge setup, potentially leading to further downside.

Final Thoughts

Strong technical indicators, growing on-chain engagement, and institutional interest are backing the road to recovery for Shiba Inu. The pending announcement of the partnership will add another layer of interest as investors head toward whether this could be the catalyst for a big breakout. Although