Shiba Inu (SHIB) Price Could Soar as Crypto Analyst Makes Her Bullish Case

While the Shiba Inu price has crashed by 65% from its November highs, one crypto analyst believes it is too resilient to fail and that it is much better than other meme coins

A crypto analyst has said that Shiba Inu is “too strong to fail,” likely a take on the “too big to fail” phrase used for the biggest U.S. banks.

In an X post, anonymous analyst ShibaBaby Shib said that Shiba Inu had transitioned smoothly from a meme coin into a full-fledged ecosystem with real utility.

She pointed to Shibarium, its layer-2 network that is aiming to compete with the likes of Base and Arbitrum. In addition, she noted utility tokens in the ecosystem like BONE, LEASH, and TREAT. Each of these tokens has a clear utility in the crypto industry, with BONE being used to handle payments in Shibarium. She said:

“SHIB isn’t just hype—it’s a movement with infrastructure, vision, and unstoppable community strength. They've transitioned smoothly from a meme coin to a fully realized ecosystem with a rapidly growing L2, Shibarium, which has crossed over 1B transactions and 197M DEVs. They're also continuously burning through billions of tokens weekly, a stark contrast to the inflationary nature of other meme coins. Shibarium is handling an average of 1,052,907,690 transactions. At the same time, the number of addresses on the network is 197,060,646.»

Shibarium has seen rapid growth in terms of the transactions it handles and the number of addresses on its network. This growth will contribute to Shiba Inu's performance as it will help to boost the coin's burning mechanism.

In addition, in contrast to other meme coins, Shiba Inu continues to burn billions of tokens on a weekly basis. Burning reduces the number of coins in circulation, which in turn helps to boost the price of the remaining tokens.

SHIB Price Technical Analysis

The daily chart reveals that the Shiba Inu price has formed a few bullish chart patterns that point to 3x in the longer term. It formed a big falling wedge between November last year and March. A strong bullish breakout often follows this pattern, especially if it is a big one.

SHIB price chart (Daily)

Source: ATOM

The coin also formed a triple-bottom pattern at $0.00001080. This pattern is made up of three low swings and a neckline, which, in this case, stands at $0.000033, its highest level in 2024.

Most recently, it has formed a smaller double-bottom with a neckline at $0.01567.

Therefore, while it is too early to predict, it is likely that the coin will bounce back, and possibly hit the neckline at $0.00003335. This price target is about 300% above today’s level.

The alternative scenario is bleak for the coin. A drop below the triple-bottom point at $0.00001080 will be a sign that bears have won and push the coin much lower over time.