According to research provided by analyst CryptoELITES, Shiba Inu’s price might rise by 17 times from its current levels. The projection comes as SHIB approaches a potential breakout from a symmetrical triangle formation that has contained price action for several weeks.
The technical pattern occurs when an asset’s price compresses between ascending support and descending resistance lines. CryptoELITES identified SHIB trading near the triangle’s apex, with the token positioned for either upward or downward movement as the pattern reaches completion.
CryptoELITES has maintained consistent conviction in the $0.00023 price target, having issued similar predictions on multiple occasions. The analyst first shared this projection in April when SHIB traded around $0.000013, demonstrating persistent belief in the token’s upside potential.
Consolidating toward the lower edge of the triangle pattern, SHIB was trading close to $0.00001243 at the time of the current study. According to the analyst, the anticipated rise toward the lofty target level can be triggered by a verifiable breakout above resistance.
Community reactions to the prediction have varied widely among SHIB holders. While some investors express skepticism about the token’s ability to achieve such gains, others consider the forecast too conservative given historical meme coin performance during bull market cycles.
The $0.00023 target has gained support from additional market commentators beyond CryptoELITES. Analyst Alan Santana previously forecasted SHIB reaching this level by the end of 2025, though he emphasized that favorable market conditions would be necessary for the prediction to materialize.
Crypto expert Himanshu Maradiya has made even more bullish predictions, speculating that SHIB may rise to $0.0003 during the current market cycle in addition to reaching $0.00023. The price objective is receiving more attention as a result of these several analyst confirmations.
Also read: Top Meme Coins To Invest in Today – Why the BullZilla Presale Stands Out as BTC and APE Drive Market Buzz
