Shiba Inu (SHIB) Looks Primed for a Possible Breakout as the Price Action on the Weekly Chart Constricts.

Several cryptocurrency analysts are referring to a pattern formation that suggests SHIB could be on the verge of a massive price action following a consolidation phase.

Shiba Inu (SHIB) is showing signs of a possible breakout as the price action on the weekly chart constricts, several cryptocurrency analysts are referring to a pattern formation that suggests the altcoin could be on the verge of a massive move following a period of consolidation.

Shiba Inu: Awaiting Breakout

One analyst, who posts on X (formerly Twitter) as SHIB KNIGHT, observed that the SHIB pattern is squeezing on the weekly chart. This shows preparations for a breakout. The analyst expressed expectations for an upward price movement, contingent on Bitcoin maintaining its stability.

The analyst stated: “I expect a rise from here if Bitcoin doesn't spoil it.”

A number of distinguished SHIB experts have made bullish price predictions regarding the meme coin. Analyst CryptoElites added that SHIB could rise 17 times in value. According to him, the token was in a favorable buy position, and a profound price change would occur shortly. One of his charts shows the formation of a triangle with the potential breakout of $0.00023.

Another analyst, SHIB POSSESSOR, tweeted that if SHIB broke through its present resistance level, then it would race to a fresh all-time high in a flash. The analyst urged the community to purchase SHIB since prices are where they are.

These are positive predictions against some technical indicators. Market sentiment in Shiba Inu is bearish, reports crypto market intelligence platform Coincodex, as the Fear & Greed Index stands at 29, which equates to “Fear” in the market.

The platform analysis shows SHIB experienced 14 green days within the last 30 (47%) and SHIB price volatility of 6.31% within the same period. Coincodex now shows that it may not be the right time to purchase Shiba Inu according to these statistics.

Short-Term SHIB Price Targets Suggest Potential Volatility Ahead

Short-term price targets for Shiba Inu display an interesting pattern of initial decline followed by substantial projected gains. According to a forecast chart by CoinCodex for the coming days, SHIB is expected to see a slight dip to $0.00001171 on April 17, 2025.

However, the outlook changes after this initial decline. The forecast indicates a price of $0.00001554 on April 18. This is a potential ROI of 32.34%.

This pump persists with expectations of $0.00002092 on April 19 (78.24% ROI), coming next, then $0.00002634 on April 20, a 124.38% return. Then there is a dip to $0.00002287 on April 21, still keeping a high 94.81% ROI.

The CryptoElites chart shows a triangle pattern in SHIB/USD with trendlines converging to form support and resistance. This pattern typically suggests that there is little price action to expect before a major change takes place.

The analyst has labeled significant points along these trendlines to illustrate that the price is heading to the apex of the triangle where a decision will be made. The chart has a target price of $0.00023. Additionally, CoinGape has released their SHIB price prediction for April.