Expert Predicts Shiba Inu (SHIB) Price Could See a 94% Pump, but These Barriers Stand in the Way

Shiba Inu (SHIB) price is still stuck under heavy resistance, and the price action shows it. SHIB trades around $0.000009805 after a  2.4% dip today. 

Even with last week’s 11% bounce, the overall trend has not changed. The chart remains capped by two descending trendlines, and those trendlines continue to shape the entire setup.

Some analysts now think the SHIB price is approaching a moment where the structure might finally shift, but it needs a clean breakout before anything changes.

Here’s What The SHIB Chart Is Showing

A TradingView chart shared by MMBT Trader highlights the big problem: the Shiba Inu price keeps getting rejected at the same descending trendlines. 

The first one lies close to the $0.00001270 mark, and each time the price tries to reclaim it, the sellers jump in. The second trendline stands higher, close to the $0.00001933 mark, which SHIB hasn’t touched in months.

The thread breaks down several key rejections. The SHIB price failed at $0.00001767 in May. Then at $0.00001579 in July. Then at $0.00001414 in September. These repeated failures show just how firm the overhead resistance has been throughout the year.

The chart also notes that SHIB dropped under the second trendline back in January after losing $0.00002043, which triggered the deeper correction that continues today.

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What Needs To Happen for a Trend SHIB Price

MMBT Trader points to a simple first step: SHIB needs a decisive break above the first descending trendline. 

Reaching that level requires roughly a 27.69% move from here. Only after reclaiming that zone can SHIB even approach the higher trendline.

If the Shiba Inu price reaches the second trendline at $0.00001933, the analyst expects a consolidation period. That pause would allow the market to digest the breakout before attempting anything bigger.

He forecasted that if the Shiba Inu price reaches the second trendline at $0.00001933, there would be a consolidation period. The pause would give time for the market to digest the breakout before attempting anything bigger.

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Moreover, Shib Knight has highlighted a symmetrical triangle pattern forming on the chart. Patterns like this often appear when a token is nearing a breakout from a long accumulation phase.

Javon Marks also remains optimistic. Marks sees a potential 200% rally back toward the $0.000032 region, which lines up with a well-known resistance area from earlier in the cycle.

MMBT Trader, in earlier forecasts, mapped out three aggressive targets: 164.8%, 236%, and 460% gains from support zones near $0.00001 and $0.000006.

Nevertheless, Shiba Inu price continues to trade in a downtrend, but the chart is starting to get tighter. A break above the first trendline would shift short-term momentum.. A break above the second trendline would completely change the structure.

Until then, the downtrend stays intact, and every touch of resistance carries rejection risk.

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Boluwatife Afe
Boluwatife Afe

Boluwatife is a dedicated content strategist specializing in the crypto industry and is passionate about blockchain technology and digital currencies. With a keen eye for emerging trends and a talent for making complex topics accessible, Boluwatife aims to educate and inspire the crypto community through engaging and insightful content.

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