Will Shiba Inu Price Soar 58% On This Bullish Reversal Pattern?

Key Insights:Analysts eye a 58% breakout if SHIB confirms the reversal pattern with volume support, targeting $0.00002215 and beyond.SHIB’s Layer-2 network shows massive adoption, while whale inflows jump nearly 3,000%.With Bitcoin climbing and altcoins gaining traction, SHIB could ride the wave by over 100%.Shiba Inu price increased 7.08% in the last 24 hours alongside the general market to trade at $0.00001493 on a 182% surge in trading volume to $693 million. SHIB, the meme coin that’s been a fan-favorite since its 2020 launch, is showing some serious potential for a breakout. Is SHIB about to moon or is it just chasing another fakeout?Shiba Inu Price Action: Cup & Handle VibesCrypto analyst Rose Premium Signals shared a Shiba Inu price chart, noting that a bullish reversal cup and handle could be forming. This technical setup often signals a big move upward. SHIB’s price has been carving out this pattern since late 2024, with the “cup” forming a U-shaped recovery after a sharp dip. The “handle” is that consolidation phase we’re seeing now, where the price chills before a potential breakout.SHIB/USD Price Chart | Source: XThe chart marks a key buy zone at $0.00001148, labeled “LONG HERE,” where SHIB already bounced. As of May 9, the price is sitting at $0.00001493, up 9.9% from last week according to Coingecko data. Rose Premium Signals is eyeing some juicy targets: $0.00002215 (Target 1), $0.00002724 (Target 2), and $0.00003298 (Target 3). If SHIB hits that first target, we’re talking a 58% pump from the current price. The final target? That’s a whopping 135% gain.The SHIB chart also shows the meme coin respecting the key support level $0.00001148. Investors should watch for a spike in volume to back up any rally that sprouts from this level. If SHIB can’t break out and dips below $0.00001148 for more than 8 days, we might see some bearish vibes instead.Major Crypto Developments Impacting SHIB Price This WeekOn the community front, Shibarium, SHIB’s layer-2 scaling solution, has been killing it. Just last month, Shibarium hit a huge milestone of 1 billion processed transactions on 10 million blocks, showing mad adoption within the crypto space.Crypto analyst Wadi The Crypto Hunter predicted a “major price move coming soon” after citing a 2,952% increase in whale inflows. They spotted large SHIB transfers to whale wallets, which could mean some big players are looking to accumulate. If that happens, we might see some short-term price surge.Large Holder Netflow (SHIB) | Source: IntoTheBlockShiba Inu is still holding in what looks to be a massive Inverse Head & Shoulders pattern and as prices look to be in the final shoulder of this pattern. a surge can be looming and it could be towards our larger breakout target over 512% higher at $0.000081.Market Context: What’s Driving SHIB?The broader crypto market is also playing a role. Bitcoin (BTC) is showing bullish fractal patterns, with a potential rally to $150K on the horizon. When BTC pumps, altcoins like SHIB often ride the wave. Plus, the overall market cap for SHIB is sitting at $8.78 billion, with a 24-hour trading volume of $693 million. That’s some decent liquidity, making SHIB a hot pick for traders.SHIB’s volatility is no joke, though. The meme coin could surge to a price range of $0.0000133 to $0.0000666 in 2025. Shiba Inu’s ability to swing hard in either direction means investors have to have diamond hands and a solid risk management game.So, will SHIB soar 58% on this Cup and Handle pattern? The setup looks legit, and the chart is giving off strong bullish signals. With the UAE partnership, Shibarium’s growth, and a potential BTC rally, the fundamentals are lining up nicely. But keep an eye on those whale movements and volume confirmation for the breakout. If SHIB can smash through resistance and hold above $0.0000234 for 13+ days, we’re in for a wild ride.DisclaimerThis article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss. That may occur from investing in or trading. Please do your research before making any financial decisions.godfrey mwirigiThe post Will Shiba Inu Price Soar 58% On This Bullish Reversal Pattern? appeared first on The Market Periodical.