Shiba Inu Tests Key Support Level, Expert Says It Could Surpass This Year’s High

▲ Shiba Inu (SHIB)

Shiba Inu (SHIB) is signaling a rebound from a key support zone, prompting optimistic forecasts that it could reach a new all-time high within the year.

According to cryptocurrency media outlet The Crypto Basic on February 27 (local time), Shiba Inu, a leading player in the meme coin market, has recently halted its downtrend and is at a technical crossroads to secure fresh upward momentum. Senior analyst Jake Gagain presented specific price targets, suggesting SHIB could reach $0.0001 or even $0.0005 within the year.

Experts analyze that the acceleration of Shibburn, the token burn mechanism within the Shiba Inu ecosystem, could reduce circulating supply and act as a catalyst for price appreciation. Additionally, the activation of the layer-2 solution Shibarium and strong community support are reinforcing its evolution beyond a simple meme coin into an asset with tangible utility. Gagain emphasized that Shiba Inu has already built strong brand power and could become one of the most spotlighted assets in the next bull market.

Recent key technical indicators, including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), are also signaling a bottoming-out pattern, adding to the positive outlook. As analysis suggesting that Shiba Inu’s market capitalization has the potential to grow multiple times from current levels gains traction, long-term investors are accelerating their accumulation. Gagain stated, “Shiba Inu is building a unique ecosystem beyond a passing trend.”

However, some caution that a clear breakout above the $0.000025 resistance level is necessary for a full-fledged rally to begin. The overall market liquidity environment and Bitcoin (BTC) price movements are cited as key variables that will determine the pace of SHIB’s rebound. Investors are closely monitoring large whale accumulation trends to time their entries.

Shiba Inu has previously demonstrated high volatility through past surges, and this time again, the unity of its community is expected to be a crucial factor in price recovery. The currently suggested price targets are based on optimistic market scenarios, and actual attainment will depend on the pace of ecosystem expansion.

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