Shiba Inu has a $0.00051 price target after breaking out of a downtrend.

Notable analysts suggest that Shiba Inu holders can expect a 120% surge that could push SHIB to $0.00051 after breaking out of the downtrend.

Over the past few days, Shiba Inu has continued to record gains for its holders, recording 11% growth in one week. Moreover, Shiba Inu boasts a cumulative gain of 15% over the past 30 days at a price of $0.00002501, erasing all of April’s losses.

Amid these commendable achievements, Several analysts have reason to believe The Shiba Inu has not yet begun its upward trend. Widely followed pseudonym analyst “World Of Charts” expressed this view in a recent post about X.

Shiba Inu to $0.00051

In the post, the analyst presented a chart showing that Shiba Inu continues to trade within a bearish channel, suggesting that a break out of the bearish trend has yet to be confirmed.

Meanwhile, he suggested that a successful reversal of the trend holds enormous potential for SHIB holders. He proposed a 120% surge that would increase SHIB’s market value by $0.00002912, bringing the asset back to the $0.00051 price level.

$ceiling

Still consolidating with descending channel in case of a successful breakout expecting a large bull run #ceiling It is on an upward trend with further upside expected in the future.#Cryptocurrency pic.twitter.com/MrRrQYOPSB

— World Of Charts (@WorldOfCharts1) May 14, 2024

In particular, the bearish period under investigation is the Shiba Inu slump following the March fever that pushed the asset above $0.000045. The SHIB pattern that follows shows notable consolidation with lower highs. This trend has persisted for over two months and analysts believe it may be reversing.

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In a separate analysis, market observer Davie said: pointed out A similar configuration on the Shiba Inu chart suggests an imminent bullish breakout. Similar to World Of Charts, Davie presented a graph suggesting the $0.0005 threshold as the next target for Shiba Inu.

Essentially, this proposition suggests that SHIB holders can expect their holdings to double in the future.

Will SHIB break $0.00015 next month?

In response to these predictions, Shiba Inu supporters proposal The impending surge is much closer than many people expect. Specifically, this individual claimed that the Shiba Inu surge could unfold over the next three weeks, into June.

He suggested SHIB could see an even more dramatic six-fold increase. $0.00015 or more along with his expected timeline. This bold prediction comes from: Shiba Inu’s March performanceSHIB more than tripled in less than 10 days.