Shiba Inu (SHIB) could gain up to 150% in the coming weeks, according to analysts who spotted a bullish breakout from a long-term falling wedge pattern.
CryptoKartha and StonkTrump posted separate charts indicating the same breakout formation. CryptoKartha expects a 100–150% rally, citing midterm technical strength. StonkTrump posted a more extreme long-term chart projecting a move toward $0.25.
At press time, SHIB to USD is trading at $0.00001581, up 13.7% this week, and trending above key resistance levels.
SHIB’s daily chart confirms a clean breakout above a descending resistance that had held since mid-May. The price now moves within an ascending channel, holding above previous resistance at $0.00001400, which has flipped to support.
This breakout aligns with the wedge structure both analysts identified and technically justifies expectations of further upside.
While the breakout setup appears strong, momentum indicators suggest the current move may be overheated.
SHIB’s Relative Strength Index (RSI) stands at 79.8, well above the 70 threshold that typically signals overbought conditions. This suggests that although the breakout is valid, price may consolidate or pull back before extending higher.
A 100–150% move would place SHIB near $0.000032 to $0.000039, areas last visited in early 2022. Those levels coincide with multiple long wicks and consolidation zones from the prior cycle, making them realistic midterm targets.
In contrast, StonkTrump’s $0.25 target implies a 1.5 million percent gain from current levels — a figure unsupported by historical performance, market cap logic, or supply constraints. No technical or on-chain data currently backs that long-term projection.
Volume and Derivatives Data Show Modest Support
Backing the breakout, SHIB’s 24-hour volume surged 55% to $575 million, while open interest also rose slightly. These trends support rising speculative activity.
However, both metrics remain well below the March 2024 peak, when SHIB’s daily volume exceeded $2.3 billion and open interest crossed $130 million. Compared to those figures, current volume is down 75%, and OI is still recovering.
This shows that while interest is returning, the breakout has not yet triggered the scale of participation seen during past rallies.
The daily SHIB burn rate rose 2,923% on July 21, with 2.26 million tokens removed. However, Shiba Inu’s circulating supply exceeds 584 trillion, and the burned amount represents a fraction of 0.0004% of that.
Burn metrics support positive sentiment but do not meaningfully impact supply or price at this stage.
Despite the bullish setup, On-chain data from Santiment shows that whale activity has remained flat. Both whale transaction counts — over $100K and $1M — show no meaningful uptick since June.
Likewise, Shiba Inu’s daily active addresses and network growth are near multi-month lows. This lack of new user engagement and large holder accumulation weakens the breakout’s fundamental foundation.
Bitcoin Correlation Could Guide SHIB’s Next Move
SHIB’s 30-day correlation with Bitcoin stands at 0.89, indicating strong dependency on broader market movement. Bitcoin currently trades near $119,400, consolidating after its recent climb.
If Bitcoin continues higher, it could pull SHIB upward. But if BTC declines, SHIB’s breakout may falter — especially given its weak on-chain metrics.
SHIB has outperformed most meme coins this week with a 13.7% gain, trailing only BONK, which rose 26.9%. However, trading volumes suggest capital remains concentrated elsewhere — PEPE posted $1.74B in daily volume, BONK saw $859M, while SHIB lagged at $575M.
Without stronger capital inflow, SHIB may struggle to reach the higher end of the analysts’ forecast.
