Shiba Inu Poised for Massive 17x Surge, Can It Break Out Soon?

SHIB trades at $0.00001278, down 61% from its December 2024 peak of $0.00003343.
Analyst CryptoELITES predicts a breakout to $0.00023, a potential 17x surge from current levels.
Whale transactions spiked 197% to 7.49T SHIB, while burn rate surged 2227% in 24 hours.

Shiba Inu appears set for a significant rally as analysts anticipate a surge to $0.00023. After months of volatility, SHIB is regaining attention while trading near $0.00001278, marking a steep 61% decline from the December 2024 peak of $0.00003343.

Despite the downturn, long-term investor CryptoELITES predicts a big move is coming soon, hinting at an aggressive upward push from its current levels. That optimism stems from Shiba Inus positioning within a long-term symmetrical triangle pattern thats shaped price action for nearly four years.

This pattern began forming after SHIBs meteoric rise to $0.000088 in October 2021. That moment, fueled by a wider crypto bull market, marked its all-time high. But after the rally cooled, Shiba Inu started sliding. Over time, its price action drew the boundaries of the trianglepulling back, testing support, but also bouncing higher every time it hit that lower line.

Source: CryptoELITES

Strong Buy Zone Signals Shiba Inu Surge

Fast forward to March 2025, Shiba Inu is back at that crucial lower trendline, currently testing support. CryptoELITES highlights this zone as a strong buying opportunity, often preceding major price movements.

A successful surge beyond the symmetrical pattern could propel Shiba Inu prices toward $0.00023, marking a staggering 17-fold increase from current levels. Reaching this target would eliminate a leading zero and set a new all-time high.

Other analysts share similar projections. Alan Santana identified the same price region as an accumulation phase in August 2024. He anticipated a rise to $0.0002318 if momentum triggered a breakout, reinforcing the prevailing bullish outlook.

Whale Transactions Surge to Two-Month High

Meanwhile, major investors seem to be betting on that breakout. On March 20, SHIB saw a staggering 7.49 trillion tokensworth over $97 million at the timetransacted in large whale movements. Thats a 197% spike from the 2.52 trillion SHIB moved just a day earlier. These large transactions are defined as $100,000 or more, showing interest returning to the table.

This surge in whale activity follows a weekend lull where large transaction volume dropped to a five-month low of just 571 billion SHIB. But now, volumes are climbing fast, with the March 20th spike being the highest in nearly two months.

Source: IntoTheBlock

And thats not the only bullish signal. The SHIB burn rate increased by 2227% in 24 hours, wiping out over $18.6 million worth of tokens. In total, SHIB has now burned 410.7 trillion tokens. With the circulating supply now down to around 589 trillion, this aggressive burn strategy could put upward pressure on prices.

All eyes are now on whether SHIB can break through its long-standing resistance. The current chart setup, growing whale interest, and massive token burns suggest momentum might be swinging back in favor of the Dogecoin rival.

Text source: TronWeekly

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