Shiba Inu Ready to Move: Expert Shares Next Near-Term 126% Target

Shiba Inu has regained momentum, and recent market analyses suggest its price is about to go parabolic from the current standing.

For context, analyst Maddox Metrics shared in a TradingView analysis that major indicators are turning bullish for Shiba Inu following its recent price uptrend, indicating it may be poised to move to higher prices. Furthermore, he shared his near-term price target and further bullish confirmation in the July 20 commentary.

Bullish Momentum Building for Shiba Inu

Notably, SHIB, the second-largest meme coin by market cap, is waking up after bouncing from a crucial support area around $0.00001020 in June. Since the lower price rejection, it has surged 55% to its current price.

Meanwhile, Shiba Inu is up 4.86% and 15% over the past 24 hours and seven days, respectively, cutting its year-to-date deficit to 25%. This further highlights its bullish prospects following a broader market uptrend.

The analyst identified that Shiba Inu has printed a weekly bullish divergence on its relative strength index (RSI) with its recent price action and now targets the 200-day exponential moving average (200EMA) resistance. 

Notably, SHIB has successfully broken above the indicator at $0.00001541 at the time of writing, but trades below the 200-day moving average (MA200) at $0.00001642. According to the analyst, this bullish thrust emerged from the retest of the golden pocket 0.786 Fibonacci retracement at its earlier-mentioned local support level at $0.00001020.

With all these variables ticking in Shiba Inu’s favor, he predicted a 126% rally to retest a crucial resistance at $0.00003579. Notably, SHIB faced price rejection at that level twice in recent times: once in March 2024, when it closed at $0.00003286, and again in December 2024, as it rallied to a high of $0.00003343.

Defying the zone would spark further upside for Shiba Inu. For context, the analyst highlighted a possible trend to $0.00008922, surpassing its current all-time high of $0.00008854.

Only the Beginning for Shiba Inu?

Interestingly, ilagodzilla shares a similar bullish outlook for Shiba Inu but suggests the meme coin has higher bullish targets. In a parallel TradingView analysis, he noted that SHIB’s rally to $0.00008854 is only the beginning.

An accompanying chart shows he expects further parabolic expansion to a second target of $0.00017299, representing a 993% growth from its current price of $0.00001582. Meanwhile, his ultimate target is a 1,483% surge to a new all-time high of $0.00025056.

Notably, these price outlooks are not new for Shiba Inu, as other market commentators have shared a similar prediction. Oscar Ramos projected a rally to $0.00017 this bull cycle, calling it the realistic target for SHIB. Furthermore, an analysis by The Crypto Basic, employing expert opinion from Changelly, suggests that Shiba Inu will reach $0.00024 by February 2032.