Shiba Inu in a Strong Buy Zone

Amid market uncertainties, Shiba Inu is positioned for a significant move, according to cryptocurrency analyst CryptoELITES. As the market struggles, SHIB remains below the $0.000013 mark.

Currently, SHIB trades around $0.00002, marking a 63% decline from its peak of $0.00003343 in December 2024. This decline has occurred following a rally during which Shiba Inu benefited from broader market trends, particularly influenced by political events.

SHIB’s 4-Year Symmetrical Triangle

CryptoELITES sees potential in SHIB despite recent downturns, pointing to a four-year symmetrical triangle that has guided the asset’s price movements. This triangle formed after a peak of approximately $0.000088 in October 2021, as part of a bull market that saw various cryptocurrencies reach new all-time highs.

After this peak, a significant pullback occurred, establishing the symmetrical triangle. SHIB didn’t retest the upper triangle trendline until March of last year, reaching a temporary peak of $0.000045 before experiencing another major correction.

Currently, the asset’s value corrects around $0.00001082, forming a retest of the lower trendline. Historically, these retests have triggered significant upward momentum, highlighting the current “strong buy zone.”

CryptoELITES forecasts a potential breakout for SHIB, targeting a price of $0.00023 which would eliminate one leading zero, representing a remarkable surge from its current price of $0.00001258.

Market analyst Alan Santana echoes this sentiment, suggesting SHIB is poised for a breakout towards $0.0002318.

Conclusion

As analysts analyze Shiba Inu’s current market position, they highlight a strong buying opportunity with expectations of a substantial price increase.