Shiba Inu (SHIB) could be set for a new surge to as high as $0.001, according to a new textbook bull pattern emerging. SHIB hit a multiyear high of $0.000045 in March 2024 before entering a prolonged consolidation phase. However, there are various expectations that the meme coin could be heading for explosive gains this year, possibly starting soon.
On Thursday, popular crypto analyst Javon Marks highlighted a bullish triangle pattern on SHIB’s chart. The new pattern reveals that the token could be on the verge of a significant breakout. “After confirming another Bull Pattern, and a textbook one at that, SHIB remains on our radar for a major continuation towards the larger target level at $0.000081. This target’s currently over 258% away, so a continuation towards it can be huge.” He tweeted.
Other crypto market analysts are projecting similar gains for SHIB in the coming bull run. Another prominent analyst, “CryptoElites,” says that the bullish triangle pattern on the weekly chart could mean a price target of $0.0023. This marks a 100X return from current levels.
Shiba Inu on its Way to Erasing Another Zero?
2025 started with increased hopes for the crypto industry, especially for SHIB. Several investors are eager to witness Shiba Inu rise to a notable peak. While reclaiming its all-time high could be a challenge in itself, ambitious members of the market are betting on SHIB surging to 1 cent. According to predictions from CoinCodex, the meme coin is expected to surge by 335% from its current price level, putting it well on its way to a 400% surge to $0.0001
CoinCodex projects this surge will occur in July. During this period, SHIB will rise to a high of $0.00009623. The average trading price of the second-largest meme coin will remain at $0.00007607. While July marks the most bullish month for Shiba Inu, August and September are also slated to be profitable for the meme coin.
Furthermore, the “Shiba Army” continues to actively burn tokens to reduce circulating supply, potentially boosting scarcity and value. Whale activity, with large transactions indicating accumulation, is another bullish indicator that there is plenty of hype around it.