Shiba Inu price could 4X with 7,000% rise in whale accumulation. Key resistance at $0.00002050 could pave the way to $0.000081
Shiba Inu Price Surge Imminent Amid 7,000% Whale Accumulation
SHIB whales sense something is about to happen as they have been loading up on the tokens massively over the past week. Data from IntoTheBlock (ITB) shows whales have increased their SHIB holdings by 7,469% in just 7-days. Although the monthly NetFlow is still down 3,000% compared to the last month, the increase over the week suggests the trend is changing.
This is confirmed by a spike in the large holder transaction count, which increased from 53 transactions (txs) to 324 txs. This suggests that large investors are keenly interested in SHIB because they anticipate the price may surge.

Famous crypto analyst Javon Marks still maintains his prior prediction that SHIB price will rally to $0.000081. According to Marks, the SHIB Relative Strength Index (RSI) confirms a falling wedge bull pattern on the daily chart. If his assessment if correct, this will constitute a 4X rally from the current price.

SHB Price Analysis: Barriers To Beat For 4X Returns
Shiba Inu price forecast shows an asset broken out of a symmetrical triangle. The triangle is within a four-month range with resistance at $0.00002050 and support around $0.00001260.

The price is currently hovering above the upper trend resistance (R1) of the triangle, and further volume would be needed to break above the overhead resistance at $0.00002050.

If the price rises beyond the resistance, it would immediately soar 45% to $0.000028 and 68% to $0.000032 before moving higher to $0.000 081.
Shiba Inu price analysis chat
Can SHIB Break Past the $0.00002050 Barrier?
An analysis of the Average Directional Index (ADX) on the daily chart shows that it is at 16.46 but turning upwards, which shows that volatility is low but increasing. Combined with the current SHIB price action, it is a bullish indication that buy pressure could return to the meme coin.

Image source: Trading View
The Moving Average Convergence Divergence (MACD) indicator has also sported a bullish crossover, and with the Relative Strength Index (RSI) above the midpoint at 56.96, Shiba Inu price still has room to move upward before it hits the overbought zone.

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Discover the challenges Shiba Inu price faces in reaching $1. Analyst shares why it's 'highly improbable' and what it would take to reach it.
For the Shiba Inu price to reach $1, several key factors must align perfectly. This price milestone would require substantial changes in market conditions that would propel it to new heights. The SHIB price at $1 dream could be in jeopardy as one analyst said the “path to $1 is highly improbable” due to several factors.
SHIB price is trading at $0.00001682, down 1.4% in the last 24 hours. This happens as Bitcoin price trades just below $68,000, pulling the entire crypto market down 1.2% to around $2.4 trillion. Long Article read till last line.

What Would It Take For Shiba Inu Price To Hit $1
Crypto analyst InvestingHaven has thrown cold water on the chances of SHIB achieving $1. He said it is “highly improbable” for the trending meme coin to reach $1 price. Giving several reasons, the analyst explained why this ambitious target would necessitate a series of significant developments and crypto market shifts, which currently, have low chances of happening.

1. Huge Shiba Inu supply and market cap puts pressure on the price to remain low.
2. Global SHIB adoption rate is not happening fast enough to propel it to $1.
3. Market speculation is not bullish enough to sustain the SHIB price rally to a dollar.

1. Shiba Inu Market Cap and Supply Burns
One of the most daunting challenges for the SHIB price to reach $1 is the required market cap. At its current supply, SHIB would need a market cap of approximately $589 trillion. To put this into perspective, this figure is several times larger than the entire global economy, which sits at $91 trillion as of September 2024.
Therefore, reducing the circulating supply through substantial and consistent SHIB burns is essential. These burns would need to be on a massive scale to make a meaningful impact on the token’s price.

2. Global SHIB Adoption and Real Use Cases
For SHIB to achieve such a high valuation, it must also see widespread global adoption and the development of real-world use cases. This means that SHIB would need to be integrated into various financial systems and accepted as a legitimate form of payment by businesses and consumers worldwide.

The last time Shiba Inu recorded notable adoption rates was in July 2024, when it jumped 36% and transaction count surged 150%. During that period SHIB price rose more than 56% in about two weeks. The crypto asset would need to move beyond being a speculative asset and become a functional part of the global economy if the SHIB $1 price target is to be achieved.

3. Speculation and Market Sentiment
While speculation has driven much of SHIB’s price action to date, it is unlikely to sustain a $1 price point. The crypto market is highly volatile, and speculative bubbles can burst as quickly as they form.
Source: x formally twitter.
Data from Coinglass Liquidation Map (LM) shows the 30-day trading volume is largely dominated by Shorts than Longs. This imbalance suggests that bearish sentiment currently dominates the SHIB market as traders anticipate further lows from the meme coin in the future.
For SHIB to maintain a high valuation, it would need to withstand intense scrutiny from regulators and the broader financial community. This scrutiny could lead to increased regulation, which might impact the token’s price and adoption negatively.

SHIB Price Analysis Reveals 71% Breakout Inbound
Shiba Inu price forecast shows the asset recently broke a long-term downtrend line, signaling a potential shift toward a bullish trend. Currently, SHIB is moving sideways, with some signs of consolidation above the 0.618 Fibonacci retracement level, suggesting accumulation.
SHIB price sports key resistance levels around $0.00001811 and $0.00002737, while on the flip side, there is an immediate support level around $0.00001592 and $0.00001436.

There is a bull flag almost completing whose breakout could spur Shiba Inu price 71% to $0.00003288. If bears push the price below $0.00001592, it could signal market weakness, leading to an invalidation of the current bullish thesis,

Given the current market conditions and the factors outlined above, the path to $1 for SHIB is highly improbable. While $1 is unlikely to happen, SHIB price action remains bullish short term to midterm and could break out if BTC starts surging again.

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The monthly SHIB burn data sparked significant optimism surrounding Shiba Inu's potential to hit $0.0001 ahead.
The monthly SHIB burn rate garnered substantial attention on Thursday as it landed a remarkable blow to Shiba Inu’s supply. As per burn data surfacing within the market, nearly 125 million coins were incinerated in the past month, sparking optimism over the meme coin’s future price movements. Intriguingly, with the massive burn surge and recent ecosystem developments coming into play, market watchers are eyeing a $0.0001 price target ahead for Shiba Inu. Read till last word for better understand it.

Shiba Inu To $0.0001 Possible?
At press time, SHIB price traded at $0.00001857, down nearly 2% in the past 24 hours. The coin’s intraday low and high were recorded as $0.00001823 and $0.0000192, respectively. Notably, the monthly chart showcased a slight 1% gain value despite the abovementioned massive SHIB burn. This has sparked contrasting speculations among market participants over the meme token’s potential to hit $0.0001 in November.

However, recent ecosystem developments, coupled with the massive burns, have urged investors to keep their eyes on the token. A recent Many Media report revealed that Shiba Inu emerged among the leading cryptocurrencies, which crypto investors have been holding the longest. This data, underscoring increased market confidence in the asset, has added to bullish projections.
Simultaneously, it’s also worth mentioning that the token’s lead developer, Shytoshi Kusama, added to the market frenzy surrounding the meme coin, spotlighting how it outshined BTC. This chronicle has added to market optimism surrounding the meme-themed digital asset’s potential to pump ahead.

Also, a recent SHIB price analysis by CoinGape Media further reveals that a $0.000081 price target looms for the token in light of the broader market’s recent bullish movement, coupled with looming U.S. elections and surging market cap for the meme coin. Given the meme coin tops this level, a run to $0.0001 could also be seen ahead.

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Analysts predict Shiba Inu price could end its 8-month correction with a bullish breakout as it nears a key resistance point.
The crypto market has witnessed a bearish turnaround ahead of the U.S. presidential election. As Bitcoin price dives below the $70,000 threshold, most major altcoins, including popular memecoin coin SHIB, showed renewed selling pressure. However, crypto analysts predict this pre-election pullback could recuperate the bullish momentum and drive a major breakout from the Shiba Inu price 8-month correction. Read till last line.

Analyst Predicts Shiba Inu Price Breakout After 8-Month Correction: $0.00004 Possible?
In a recent tweet, market analyst CryptoZeybek signals an impending breakout for Shiba Inu price amid the U.S. presidential election 2024. His analysis of SHIB’s daily chart showcases an active price consolidation trend between two converging trendlines, indicating the formation of a symmetrical triangle pattern.
Theoretically, this pattern leads to a temporary sideways movement, allowing the prevailing trend to regain momentum and potentially trigger a sustained breakout. Amid the pre-election pullback, the SHIB price plunged from $0.0000198 to $0.000017, registering a 13% drop.
However, several market analysts predict the U.S. election result to be highly bullish for the crypto market if a crypto-friendly candidate is elected. Thus, the current reversal could be a final dip before an accelerated market rally.
If the theory holds true, the SHIB price could bounce 11.5% up to challenge the Triangle resistance at $0.0000114. A potential breakout from this barrier would conclude an eight-month correction and drive a major rally for Shiba Inu price prediction.
According to the triangle pattern, this dog-themed memecoin could aim for a potential target of $0.000021, followed by $0.00003, followed by $0.000045.

Source: x (formally twitter)
SHIB Supply on Exchanges Drops as Whales Increase Holdings
According to santiment data, the SHIB supply on exchange has witnessed a drastic drop from 158.75 trillion coins to 145 trillion coins in the last 5 months. This significant decrease implies that more investors are moving their SHIB holdings off exchanges and into private wallets, often a signal of reduced selling pressure and increased long-term holding sentiment.
Moreover, the Shiba Inu supply held by top addresses has gradually increased since April 2024, reaching 61.4% with the crypto market today. This implies that larger investors or “whales” are accumulating more SHIB, which can be seen as a sign of confidence in the token’s long-term potential.

Image Source: Santiment
However, if the marker sellers continue to defend the overhead resistance trendline, the Shiba Inu price could delay its bullish breakout.

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Shiba Inu Price Prediction: SHIB Burn Rate Fuels Potential $0.0001 Target for November 2024
The latest monthly SHIB burn data has generated significant excitement, hinting at the possibility of Shiba Inu (SHIB) reaching the $0.0001 mark soon. Recent reports show approximately 125 million SHIB tokens burned in the past month, intensifying market optimism over SHIB’s future potential. With both a substantial burn rate and promising ecosystem developments, some analysts suggest the meme coin could be on track to hit $0.0001 in the near term.
### Can Shiba Inu Reach $0.0001?
At the time of writing, SHIB trades at $0.00001857, showing a slight 2% dip over the past 24 hours. Intraday levels ranged between $0.00001823 and $0.0000192, and the monthly chart reflects a modest 1% gain despite the extensive SHIB burn. This has fueled mixed reactions among investors, with some viewing the burn as a catalyst for hitting $0.0001 in November.
Recent SHIB ecosystem upgrades, alongside significant token burns, have kept the attention of investors. According to Many Media, Shiba Inu is among the top-held cryptocurrencies, highlighting growing confidence in the asset. This data adds weight to bullish outlooks and shows why SHIB holders remain optimistic.
Lead developer Shytoshi Kusama has also spurred interest, noting SHIB’s recent outperformance against BTC. This has heightened market enthusiasm for the meme-based digital asset’s potential price movement.
In a recent price analysis by CoinGape Media, a near-term target of $0.000081 has been projected, buoyed by a bullish broader market, upcoming U.S. elections, and SHIB’s rising market cap. Should SHIB reach this level, a further climb toward $0.0001 could be possible.
Note: Recommendations and opinions are those of individual analysts. Always conduct your own research before investing in crypto markets.
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