SHIB's Subtle Surge: Major Institutional Investment May Trigger a 670% Increase
Shiba Inu (SHIB) is approaching a crucial juncture as experts discuss its chances for a major breakout after a lengthy period of sideways movement. The
SHIB’s price has been locked in a prolonged horizontal pattern, stuck beneath a major downward trendline that has served as resistance since March 2024. Market commentator MMB Trader believes this consolidation could set the stage for a bullish turnaround. Should SHIB break above $0.00001740, it may spark significant buying momentum, with targets as high as $0.00007730—a 670% jump from its current price, as highlighted by the Invezz outlook. This would echo SHIB’s history of rapid, sharp rallies following extended periods of stagnation.
Blockchain metrics highlight the token’s durability. Even with subdued prices, the number of SHIB holders has surpassed 1.54 million, indicating ongoing confidence in its future, according to Invezz. However, a recent 24-hour influx of 56.6 billion SHIB to exchanges suggests caution, as some traders may be preparing to sell. This has left SHIB vulnerable near its $0.00000900 support, and a drop below this level could see prices fall toward $0.000006, as reported by a
Interest from major investors has further fueled optimism. T. Rowe Price, which manages $1.77 trillion in assets, has applied for an actively managed crypto ETF that features SHIB alongside
Technical signals also point to a possible trend reversal. SHIB has established a support zone between $0.0000090 and $0.0000095, with indicators like RSI and MACD showing that bearish momentum is fading, as per a
Although short-term price swings remain a concern, the combination of steadfast holders, institutional support, and encouraging technical patterns suggests that SHIB could be poised for a notable comeback. Still, achieving a 670% surge will rely on broader market trends and SHIB’s ability to overcome persistent resistance. For now, SHIB is in a crucial consolidation stage—a period of calm that, if history is any guide, could lead to a dramatic breakout.
