Shiba Inu Price Could Soar 1700 Percent if Resistance Broken
A recent analysis by Crypto Patel suggests that Shiba Inu (SHIB) could see significant gains if it breaks a key resistance level. According to Patel, Shiba Inu has entered a long-term accumulation phase and is poised to re-enter its previous peak range if it clears the multi-year resistance line at $0.00000537.
Patel highlighted that this price level marks where a long-term downtrend line meets a horizontal resistance line. A major shift in market structure would be signaled if Shiba Inu posts a weekly close above this level and then confirms the zone as support, Patel said.
The basis for this outlook is Shiba Inu's repeated long-term price pattern. Patel noted that Shiba Inu has previously followed strong rebounds after deep corrections. In the 2021 bull market, it rose 1,636 percent to $0.000088 after a prolonged accumulation phase. Between 2023 and 2024, it also gained 740 percent to $0.00004500 after breaking a downtrend line.
Patel said that a similar structure is appearing again. He noted that Shiba Inu re-entered a historical accumulation phase after completing a 95 percent macro correction. If it breaks above the upper resistance in this zone, he said the first target could be $0.00000670, with the next major resistance at $0.000013.