Shiba Inu (SHIB), one of the most talked-about tokens in the crypto world, is showing signs of a potential breakout. Analysts have identified bullish patterns in SHIB’s price movement, suggesting the token could target a significant rally to $0.000066651. Let’s explore the key factors driving this momentum and what it could mean for SHIB’s future.

Mixed Performance But Renewed Hope

SHIB’s recent market performance has been a mix of modest gains and corrections. Over the past week, the token climbed 10.79%, but its monthly performance showed a decline. In the last 24 hours, SHIB has risen by 0.19%, signaling a slow but steady recovery.

Despite these fluctuations, the overall sentiment around Shiba Inu remains optimistic. Analysts believe the token is setting up for a substantial move, supported by technical patterns that have historically preceded bullish breakouts.

Bullish Cup-and-Handle Formation

A key signal fueling excitement around SHIB is the emergence of a cup-and-handle pattern on its weekly chart. This pattern, often linked to accumulation and consolidation phases, indicates a potential breakout could be on the horizon.

Crypto analyst “Strong” has highlighted this formation, projecting a target of $0.000066651 based on historical resistance levels. According to the analyst, SHIB’s current setup positions it as a “catch-up play” to Dogecoin (DOGE), with the token poised to benefit from its unique position as the largest ERC-20 token on the Ethereum network.

Slow Build-Up to a Monster Move

The anticipated rally isn’t expected to happen overnight. Instead, analysts predict a gradual build-up, followed by a sudden and dramatic surge—a phenomenon referred to as a “monster vertical move.”

SHIB previously reached a seven-month high of $0.00003329 in December 2024 before undergoing a correction to $0.0000186. Since then, the token has shown resilience, with many traders viewing this correction as a healthy reset before the next major rally.

Key Technical Indicators Show Promise

Several technical indicators are also pointing to a bullish outlook for SHIB. Market analyst Javon Marks recently observed a significant breakout above a long-term resistance trendline. This move coincided with SHIB’s recovery to $0.00002108, a key support level that has strengthened its bullish trajectory.

Marks has set ambitious targets for SHIB, with $0.000081 as a short-term milestone. This level corresponds to previous resistance points from earlier cycles. For the broader bull cycle, Marks suggests SHIB could aim for an even higher target of $0.000155.

Overcoming a Descending Channel

In addition to the cup-and-handle formation, SHIB’s daily chart shows it is currently moving within a descending channel originating from its local high of $0.00003343. Analyst Rose Premium predicts that breaking out of this channel could pave the way for significant price gains.

Rose has outlined three key price targets for SHIB post-breakout:

• $0.00003236: Short-term goal
• $0.00003870: Intermediate target
• $0.00004349: Long-term objective

These targets represent critical resistance levels, and achieving them will require sustained bullish momentum.

Path to $0.000066651 and Beyond

The broader market sentiment around Shiba Inu supports the idea of a significant rally. The token’s ability to close 2024 above the $0.00002 mark has provided a strong foundation for further upward movement. Additionally, SHIB’s growing community and its position as a key ERC-20 token contribute to its long-term appeal.

However, traders should remain cautious, as the cryptocurrency market is known for its volatility. While the signs are promising, external factors such as market-wide corrections or changes in investor sentiment could impact SHIB’s trajectory.

Conclusion

Shiba Inu’s potential breakout to $0.000066651 marks an exciting opportunity for investors and enthusiasts. With bullish patterns like the cup-and-handle formation, strong technical indicators, and positive market sentiment, SHIB is building momentum for a significant move.

As the cryptocurrency market evolves, Shiba Inu continues to capture attention, offering a glimpse of what could be a monumental rally in 2025. Whether you’re an investor or a curious observer, SHIB’s journey is one to watch closely.