Shiba Inu Disrupts Bull Flag Pattern, Analyst Anticipates a 210% Price Surge to $0.000081

Shiba Inu has made a breakout from a Bull Flag pattern, a typical sign of an upward price movement.
Within 24 hours, SHIB whales have been heavily accumulating the token, accounting for 73.72% of large transactions.
Shiba Inu (SHIB) has successfully broken out of a Bull Flag pattern, a development that often indicates the start of a significant increase in price.
Analyst Javon Marks has highlighted this event, suggesting that the memecoin could experience substantial gains.
The breakout has sparked renewed optimism among traders and investors in the Shiba Inu market. Marks emphasizes that SHIB has surpassed a smaller Bull Flag-like pattern and is currently maintaining a position above it. This breakout is crucial as it could trigger another major upward surge in SHIB’s ongoing rally.
$SHIB (Shiba Inu) has now broken out of a “smaller” Bull Flag-like pattern, and this breakout might be enough to ignite another major wave up in an already substantial upward run!
With a larger breakout also holding, this smaller break could initiate a continuation in a run of over 210%…
https://t.co/aeZ24NLMgj
pic.twitter.com/j2AfojQMsA
— JAVON⚡️MARKS (@JavonTM1)
May 20, 2024
According to Marks, this minor breakout has the potential to trigger a continuation of a run of over 210%, pushing the price to $0.000081 from its current level of $0.0000254. If SHIB surpasses the $0.000081 threshold, it may be poised for an additional 90% increase, potentially reaching $0.0001553.
Potential for Significant Gains
Marks has previously predicted a surge to the $0.000081 level, noting SHIB’s strong recovery and potential for another major upswing. The current breakout reinforces his earlier forecasts, suggesting a possible 141% upside movement to reach the target price.
Since breaking out from the resistance trend, SHIB has seen an increase of over 129%. Marks believes that as long as the current prices maintain their breakout, any pullbacks are likely to support further price increases. He predicts an additional 252% rise towards the $0.000081 target, bolstered by these pullbacks.
Market Performance and Whales Show Strong Interest in SHIB
In the past 24 hours, SHIB’s price has increased by over 6%, reaching $0.00002628 before experiencing a pullback to $0.00002548, a decline of 5.17%. The coin has since recovered by 2.53%, with its current trading price at $0.00002613. Its market capitalization and trading volume have also seen significant gains of approximately 6.83% and 147%, respectively.
Marks’ prediction began when SHIB ended a 441-day downtrend in September of the previous year. Given the significance of this development, he believes SHIB is ready for a surge, with a target of $0.000081, representing a 975% rise from $0.0000074.
Recent data from IntoTheBlock indicates that SHIB whales have significantly increased their accumulation of the digital currency. Within 24 hours, large whale transactions have accounted for 73.72% of all SHIB trades. This significant activity includes 327 large transactions, indicating a strong growth trajectory for SHIB.
In terms of volume, these transactions amount to 5.58 trillion SHIB tokens, valued at $145.48 million. This places Shiba Inu among the top-traded tokens by whales for the week. Whale transactions are defined as those with a monetary value of at least $100,000, highlighting the substantial interest and investment from major holders in SHIB.
The recent activities have also led to a surge in transaction volumes. According to the Shibariumscan explorer, the transaction count has significantly increased from 6,000 on May 14 to 18,560 on May 20, a jump of 209.33%. This rise indicates increased activity and interest in SHIB as more users engage with the token and participate in the ecosystem.