Shiba Inu (SHIB) Price Prediction: Cup & Handle Pattern Could Launch SHIB to $0.00003298

Shiba Inu price increased 7.08% in the last 24 hours alongside the general market to trade at $0.00001493 on a 182% surge in trading volume to $693 million.

Key Insights:

* Shiba Inu price rose 7.08% in the last 24 hours alongside the general market to trade at $0.0093 after a 182% surge in trading volume brought it to $693 million.

* The meme coin, launched in 2020, is showing some serious potential for a breakout.

* Is SHIB about to moon or is it just chasing another fakeout?

Shiba Inu Price Action: What Is Setting Up?

Crypto analyst Rose Premium Signals shared a Shiba Inu price chart, noting that a bullish reversal cup and handle could be forming. This technical setup often signals a big move upward.

SHIB’s price has been carving out this pattern since late 2024, with the “cup” forming a U-shaped recovery after a sharp dip. The “handle” is that consolidation phase we’re seeing now, where the price chills before a potential breakout.

The chart marks a key buy zone at $0.00001148, labeled “LONG HERE,” where SHIB already bounced. As of May 9, the price is sitting at $0.00001493, up 9.9% from last week according to Coingecko data.

Premium Signals is eyeing some juicy targets: $0.00002215 (Target 1), $0.00002724 (Target 2), and $0.00003298 (Target 3). If SHIB hits that first target, we’re talking a 58% pump from the current price. The final target is a whopping 135% gain.

The SHIB chart also shows the meme coin respecting the key support level $0.00001148. Investors should watch for a spike in volume to back up any rally that sprouts from this level. If SHIB can’t break out and dips below $0.00001148 for more than 8 days, we might see some bearish vibes instead.

Major Crypto Developments Impacting SHIB Price This Week

On the community front, Shibarium, SHIB’s layer-2 scaling solution, has been rolling. Just last month, Shibarium hit a huge milestone of 1 billion processed transactions on 10 million blocks, showcasing its rapid adoption within the crypto space.

Crypto analyst Wadi The Crypto Hunter predicted a “major price move coming soon” after citing a 2,952% increase in whale inflows. They spotted large SHIB transfers to whale wallets, which could indicate that some big players are planning to accumulate the meme coin.

If this happens, we might see some short-term surges in the Shiba Inu price.

Shiba Inu is still holding in what looks to be a massive Inverse Head & Shoulders pattern and as prices look to be in the final shoulder of this pattern. a surge can be looming and it could be towards our larger breakout target over 512% higher at $0.000081.

Market Context: What’s Driving SHIB?

The broader crypto market is also playing a role. Bitcoin (BTC) is showing bullish fractal patterns, with a potential rally to $150K on the horizon. When BTC pumps, altcoins like SHIB often ride the wave.

Plus, the overall market cap for SHIB is sitting at $8.78 billion, with a 24-hour trading volume of $693 million. That’s some decent liquidity, making SHIB a hot pick for traders.

SHIB’s volatility is no joke, though. The meme coin could surge to a price range of $0.0000133 to $0.0000666 in 2025. Shiba Inu’s ability to swing hard in either direction means investors have to have diamond hands and a solid risk management game.

So, will SHIB soar 58% on this Cup and Handle pattern? The setup looks legit, and the chart is giving off strong bullish signals. With the UAE partnership, Shibarium’s growth, and a potential BTC rally, the fundamentals are lining up nicely. But keep an eye on those whale movements and volume confirmation for the breakout. If SHIB can smash through resistance and hold above $0.0000234 for 13+ days, we’re in for a wild ride.