The Shiba Inu (SHIB) altcoin has experienced a short-term decline, yet analyst Javo Marks highlights a potential for a more than 500% increase following the break of a multi-year downtrend. Despite the current price at $0.00001298, Marks maintains his previous target of $0.000081, suggesting a fivefold increase. Marks argues that the successful retest following the breakout indicates sustained momentum and an expanding buyer base. Additionally, an increase in coin burn rates could further support a price rise.
Marks Expects Shiba Inu to Rise by 500%
In his analysis shared on social media platform X, Marks indicated that Shiba Inu successfully tested as support the long-term descending trendline it had surpassed. This pattern, considered a “confirmed breakout” in technical analysis terms, is viewed as a significant bullish signal. Marks identified two key profit-taking zones on the chart: $0.000081 and $0.00011532. He believes that surpassing the first barrier could trigger the second resistance, requiring increased buying interest and movement out of market consolidation.
While Shiba Inu has seen a 15% loss over the past week, it retains a 12.2% monthly gain. According to Marks, the pullback could represent merely a “breather” phase within the rally. Many investors believe that each close above the trendline renews market confidence, giving buyers a foundation to progress toward resistance levels.
Conditions Necessary for a 500% Increase
Marks proposes that if the accumulation process persists post-breakout, SHIB could reach $0.000081, indicating a value increase exceeding 500%. Reaching such an ambitious target would require increased volume support, improved investor sentiment, and a sped-up coin burn rate to reduce supply.
On the downside, the price remains caught between the critical breakout zone and the primary resistance line. Prolonged consolidation could trigger short-term sell-offs by indecisive investors. Nonetheless, the analyst notes that as long as the trend break remains intact, a significant upswing potential persists.
