Shiba Inu Monthly Chart Shows Imminent “Big Pump”

Higher timeframe analysis shows that Shiba Inu could soon come to life and surge extensively in the coming months, given recent price accumulation.

Shiba Inu has quickly recovered from a price downtrend on Thursday. The prominent meme coin corrected 3.17% yesterday but has compensated for the retracement with an over 9% upsurge today.

However, the doggy-themed meme coin still trails the broader market in price performance. For context, SHIB has appreciated just 8% in the past seven days, while other high-caliber assets like XRP and Dogecoin increased by 43% and 18% in the same period.

Meanwhile, a recent analysis indicates a big pump is coming. A notable market speculator asserts that an explosive run is imminent and gives a timeframe for its actualization.

Timeline for Area Breakout

TradingView analyst SimpleTrader2018 identified a strong price compression in the Shiba Inu monthly chart. Per an accompanying chart, the meme coin has sustained a trend within a symmetrical structure for six months.

The base of the triangle stemmed from SHIB’s August 2024 lows of $0.00001083. Shiba Inu recovered from the bearish momentum, hitting the tip following its short-lived surge to $0.00003341 in December.

Meanwhile, the analyst noted that Shiba Inu would experience a substantial uptick if it regained bullish momentum. He suggested that the massive upside will follow the token’s breakout in one or two monthly candlesticks.

Shiba Inu to $0.00023?

In addition, analyst CryptoELITE made an ambitious call to confirm the bullish momentum on the Shiba Inu price chart. In a Thursday analysis, the market commentator noted that SHIB’s technicals look positive, asserting that the meme coin will target a tenfold upsurge if bullish price action persists.

Meanwhile, he based the 10x upsurge predictions on a breakout from a symmetrical triangle. An accompanying chart shows that Shiba Inu formed the pattern following its push to $0.00004567 in March 2024 and has continued to consolidate within the structure.

CryptoELITE asserted that Shiba Inu would surge 850% from its current price past its all-time high to $0.00023 upon breakout. He also suggested that the outburst would happen “very soon.”

Interestingly, another analyst predicted a similar price surge. Market expert Alan Santana set an uptick to $0.00023 as his target for Shiba Inu in the bull run, noting that it would happen this year.

In the meantime, SHIB trades at $0.00002413, up almost 10% today.