A new technical analysis of TradingView suggests that the latest price movements from Shiba Inu can repeat a familiar structure from the beginning of last year, which increases the possibility of repeating history itself. The analyst examined the diagram of Shiba Inu from November 2024 to the present and pointed out a sequence of patterns that also appeared between March and November 2024, patterns that preceded a significant rally.
The analysis describes a clear path that could lead To a remarkable price boost In the direction of 0.00003 US dollars if these price patterns continue.
The sample analysis suggests that Shiba Inu can be ready for a large upward trend
The The entire analysis is grounded On the idea that Krypto markets are cyclical and Show recurring behaviors, crowd psychology and recognizable diagram patterns. In this analysis, four different sample levels are used in this analysis, which took place in Shiba Inu Daily Candlestick Timeframe table.
The trading view analyst initially showed the completion of a falling wedge pattern in Shibs Price diagram, which is a classic bullish reversal setup. The analyst found that the same structure played from March 2024 to September 2024 and acted as a forerunner for a outbreak in the following weeks.
From now on, Shiba Inu seems to be past this initial wedge and make room for the second stage, which has been identified as a cup and handle pattern. This recently observed and confirmed pattern also reflects the formation of the Meme coin in August 2024 when a short consolidation phase finally made a seat.
The analyst believes that the diagram has now occurred in such a way, which it refers to as “level 3”, a phase in which a W-shaped formation can occur. In the past, this pattern was in September 2024 with a mighty upward trend when Shib recorded a rally several weeks.
Breakout could come next
Although the repetition of the patterns is not guaranteed, the comparison of the current and past formations by the analyst shows an interesting story These bullish dealers will be interested. If the last stage like the analyst awaits, Shiba Inu could soon form a reverse head and debt pattern, which is one of the strongest Bullish reversal signals in technical analysis. This pattern was last discovered as level 4 shortly before a rally that brought the Shiba Inu Price over $ 0.00003 In December 2024.
Based on this four -stage progress, the dealer projects a 91% rally from here, which Shib could increase to USD 0.000000335. At the time of writing, Shib deals with $ 0.0000001340, which means that the token is still in the early phase of this expected sample sequence.
However, Shiba Inu’s short -term performance has recently shown a weakness. In the last 24 hours the token has slipped by 7.3%and after a short pressure over the sliding 100-day average, which it only recently had Requested a week ago. In this dip, Shiba Inu is now tested the same moving average, which could either be functioned or broken as a springboard for the next upward tract.
Selected picture of iStock, diagram of tradingview.com
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