Shiba Inu Holds Breakout, Analyst Maintains 500% Price Target to $0.000081

A prominent analyst has projected Shiba Inu to rally above 500%, maintaining his earlier prediction.

In a post on X, crypto analyst Javon Marks noted that SHIB shows continued bullish momentum following a multi-year trendline breakout. He maintains his target of $0.000081, forecasting an upside of more than 500% from current price levels.

Shiba Inu is trading at $0.00001279, a 3% decline in the past day. SHIB has been steeply declining in the past week, totaling 15%. This downtime has reduced the token’s surge in the past month to a moderate 12.2%.

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Chart Reveals Technical Breakout and Trend Shift

Javon’s chart displays SHIB breaking out of a long-standing downward resistance trendline that originated from its earlier all-time highs.

After reaching its all-time high in late 2021, Shiba Inu entered a prolonged downtrend that lasted approximately 75 weeks, or 448 days, culminating in a steep price decline of over 91%. 

A consistent descending resistance curve defined this long-term bearish phase, reflecting steady downward pressure. During this period, the market sentiment remained negative, with lower highs and lower lows forming a macro downtrend structure. The decline bottomed out near the $0.00000795 level, setting the stage for a potential trend reversal.

In early 2023, SHIB broke above the long-standing curved resistance, signaling a significant technical breakout. This breakout was followed by a textbook retest of the previous resistance zone, which held successfully as new support.

The retest occurred around mid-2023 and confirmed the breakout’s validity. Subsequently, a hidden bullish divergence appeared in late 2023 to 2024, indicating strengthening underlying momentum despite continued sideways price action. This divergence often precedes upward moves, suggesting that accumulation may have been underway during this period.

As of the chart’s timestamp, SHIB remains in a consolidation phase, trading above the critical breakout zone but below its major resistance levels. The chart outlines two key bullish price targets: $0.000081 and $0.00011532. These levels represent potential upside zones if momentum builds further. 

Initial Breakout Call Issued on July 12

Javon first identified the breakout on July 12. In that post, he confirmed that SHIB had broken through the resisting trendline and stated that the $0.000081 target was “being maintained.”

The chart shared at the time showed a similar structure: a downtrend, a confirmed breakout, and successful retesting of former resistance as support. Marks highlighted this as a potential foundation for significant price movement. He noted that the upside could exceed 500% if the pattern holds.

While SHIB’s structure remains intact above the breakout zone and the $0.000081 target stands, no specific timeline for reaching it has been given.

How High Can Shiba Inu Surge?

Notably, CryptoNuclear had viewed the recent dip as a healthy retest after SHIB’s breakout from a long-term descending trendline. His chart analysis points to a bullish reversal targeting $0.0000329.

Other analysts, including Maddox Metrics, Tradersboat, and Ilagodzilla, share a more bullish outlook, projecting targets as high as $0.000250. Notably, they called SHIB undervalued at current prices.

Adding to the bullish catalyst, Rogozinski, founder of WallStreetBets, emphasized how deflationary tokenomics can spark investor excitement, turning FOMO into “burn baby burn” mania as scarcity fuels demand.

He pointed to SHIB’s history, notably Vitalik Buterin’s 2021 burn of over 410 trillion tokens, which helped drive SHIB to its all-time high. Recently, the burn narrative returned as SHIB’s burn rate soared 16,855% in 24 hours after a Coinbase user destroyed over 600 million tokens.