- SHIB lost a key support zone between $0.000019 and $0.00002, increasing bearish risks.
- Analyst Ali Martinez predicts a further drop to $0.000011 or even $0.000008.
- Javon Marks sees a possible 420% rally to $0.000081 if the inverse head and shoulders pattern plays out.
Shiba Inu price has struggled to maintain key support levels after a sharp decline over the past month. The price of this asset demonstrated a 23% loss over last month and 4% in the past week. Analysts present opposing perspectives about Shiba Inu’s (SHIB) future direction. However, some analysts forecast additional declines yet others anticipate a substantial price recovery.
SHIB Loses Key Support, Faces Further Decline
Ali Martinez, a well-known market analyst, warned that SHIB has lost a critical support zone between $0.000019 and $0.00002. His analysis indicates that the token hovered around this level for months before breaking downward. Although SHIB surged briefly after the U.S. presidential elections, it failed to sustain momentum. The price has since dropped to its lowest level since September.
Furthermore, Martinez suggested that SHIB might experience another major correction if selling pressure continues. He outlined two potential downside targets: $0.000011 and $0.000008. If SHIB reaches these levels, the token would decline by 30% and 50%, respectively. Investors are now watching whether buyers will step in to defend SHIB or if the bearish trend will persist.
Inverse Head & Shoulders Pattern Signals Rebound
Some analysts view SHIB’s future with positive expectations even as market sentiment remains negative. However, Javon Marks who has more than 50,000 followers on X provided analysis indicating a potential bullish reversal trend. According to his analysis, SHIB’s recent price activity resembles a commonly bullish inverse head and shoulders pattern.
Notably, Marks predicts that if SHIB completes this pattern, the token could rally significantly. His analysis suggests that SHIB has the potential to surge toward $0.000081. This would represent a massive 420% increase from current price levels. While this prediction is highly optimistic, historical price patterns support the possibility of a breakout.
Market Sentiment and External Factors
The price trajectory of SHIB relies on how the market performs and investor sentiment levels. The entire crypto market shows increased volatility and Bitcoin and Ethereum demonstrate inconsistent price signals. The market stability would likely bring new focus to SHIB and other meme coins.
Additionally, SHIB’s ecosystem developments could influence its price. The network has expanded with Shibarium, a layer-2 scaling solution, and new utility projects. If adoption increases, demand for SHIB may rise, supporting a potential price recovery. However, investors remain cautious due to SHIB’s history of sharp corrections.
