Shiba Inu Price Rally Could Reach 1,700% If Resistance Level is Broken

Market analyst Crypto Patel is predicting a potential 1,700% rally for Shiba Inu (SHIB) if it breaks above a key multi-year resistance level.

According to Patel, SHIB is currently trading within its most significant macro accumulation zone since the previous market cycle bottom. He notes that this setup closely mirrors the conditions that preceded SHIB's previous multi-hundred-percent rallies.

The analyst points out that SHIB has consistently undergone deep corrections before launching powerful recoveries, citing the 2021 bull market as an example where SHIB surged 1,636% to an all-time high of $0.000088 after forming a prolonged accumulation base.

If SHIB confirms a breakout above the key resistance zone, Patel expects it to advance through several major price targets before potentially revisiting its previous all-time high. He identified $0.00000670 as the first breakout objective, followed by $0.000013 as the next major resistance. The final target would be $0.00008854, which represents an upside of roughly 1,700% from current levels.

Patel stresses that SHIB has not yet confirmed the start of a new bull market and notes that the most important price level is $0.00000537, where a long-term descending trendline intersects with horizontal resistance. A weekly close above this level would signal a major shift in market structure.