Shiba Inu Price Breakout Holds with Analyst Targeting 450% Gains
Analyst Javon Marks sees Shiba Inu holding its breakout, targeting $0.000081, a 450% gain.Shiba Inu (SHIB) has recently shown signs of recovery following a volatile period. Over the past 24 hours, the meme coin gained 1.4%, reflecting short-term bullish momentum. However, its seven-day performance remains negative, down 4.6%. Additionally, the 14-day and 30-day trends show losses of 10.1% and 22.8%, respectively. During this press, SHIB is trading near $0.00001444.Indicators Suggest Potential UpsideWhile SHIB struggles to recover, an analyst on X, Javon Marks, identified a long-term breakout that took place in early 2023, marked by SHIB breaching a descending trendline. A subsequent retest of the trendline confirmed the breakout as the price rebounded, signaling exhaustion among sellers and increasing buyer control. Later, a hidden bullish divergence on the chart, pointing to higher prices in late 2025.https://twitter.com/JavonTM1/status/1894743305348403435The analyst noted that SHIB continues to maintain its breakout from late 2022 and early 2023. Despite recent volatility, the broader trend remains positive. Based on this breakout, the projected price target stands at $0.000081, representing an increase of over 450% from current levels.Shiba Inu Institutional AccumulationElsewhere, Shiba Inus ownership distribution chart offers insights into market behavior. Over the past 30 days, large holders, commonly referred to as whales, increased their holdings by 0.35%. This accumulation suggests growing confidence among institutional and high-net-worth investors, who often accumulate before major price moves.
Text source: The Crypto Basic
