Shiba Inu Price Breakout: Analysts Predict SHIB’s Return to All-Time High with Potential Surge to $0.000081

Shiba Inu Price Breakout: Analysts Predict SHIB’s Return to All-Time High with Potential Surge to $0.000081

Shiba Inu (SHIB) has captured market attention with its recent price breakout, prompting analysts to forecast a possible return to its previous all-time high. Among them, one crypto analyst suggests SHIB’s price could soar to $0.000081, driven by several compelling factors.

Currently trading at $0.00001897, SHIB has risen 4% over the past 24 hours, marking a weekly increase of 5.7% following Bitcoin’s climb near all-time highs. But what’s behind this predicted surge to $0.000081?

3 Key Reasons Shiba Inu Could Surge to $0.000081

Crypto analyst Oscar Ramos provides insight into three primary drivers that could propel SHIB’s price higher:

1. Bitcoin’s Influence on Shiba Inu Price
Bitcoin’s price action remains a dominant factor influencing Shiba Inu, with the two assets currently showing a high 83% correlation. This strong relationship suggests SHIB has the potential to follow Bitcoin’s upward trajectory.

2. Impact of the U.S. Political Landscape
Ongoing U.S. election campaigns are also affecting the crypto market. Ramos points to the Polymarket prediction platform, which currently indicates favorable odds for Donald Trump’s presidential bid. As the election draws closer, anticipation over the potential outcome is sparking market volatility, which could benefit SHIB and other cryptocurrencies.

3. Shiba Inu’s Market Position and Volume
Despite the recent Bitcoin rally, SHIB still trails behind Dogecoin (DOGE) and Pepe (PEPE) in terms of 24-hour trading volume. However, this may offer a strategic advantage for investors, as SHIB has yet to see a significant breakout, suggesting early entry into a rally for those eyeing gains.

Can SHIB Reach $0.000081 by 2025?

Following a prolonged downtrend that began after the mini-bull run in March 2024, SHIB recently broke out of its descending channel in October, hinting at a potential trend reversal. This breakout has formed a symmetrical triangle pattern, commonly a bullish continuation indicator. With this pattern’s breakout on October 30, SHIB may be poised for an estimated 74% rise toward its next resistance levels.

To reach $0.000081, SHIB will need to surpass three key resistance levels:

• $0.000033 (0.382 Fibonacci retracement level)
• $0.000046 (the previous yearly high)
• $0.000071 (61.8% Fibonacci extension level)

These levels represent critical milestones on the path to the target price, with each successively bolstering the bullish outlook. A return below the symmetrical triangle, however, could invalidate this bullish scenario. Yet, SHIB’s current 24-hour trading volume, up 33%, suggests that bulls are firmly in control, making a reversal unlikely in the short term.

In summary, Shiba Inu’s latest breakout, coupled with supportive market conditions and technical patterns, presents a strong case for an upward trend. Reaching $0.000081 may be challenging but remains within the realm of possibility, especially if the broader crypto market maintains bullish momentum.