Shiba Inu (SHIB) Price Prediction: Analyst Reiterates His Breakout Target for Shiba Inu, Which Would Mark...

Technical analyst Javon Marks has again set a breakout target for Shiba Inu, which would see the meme coin realize an approximate 528% increase from its current levels.

Amid this bullish projection, Shiba Inu is currently changing hands at $0.0000129, registering a 0.4% decrease from its intra-day high. In the seven-day period, the token has experienced a 7.4% decline, although it shows a more positive trend over the longer time frame.

Shiba Inu Price Reaches 7-Month High After Testing Breakout

Following a successful retest of the breakout level, which saw SHIB rally to a seven-month high of $0.00003329 in December 2024, the crypto analyst has seen an opportunity for SHIB to reach levels of $0.000081 this cycle.

According to Marks, this correction phase was to be expected and has now completed, confirming SHIB’s technical structure. Since then, the SHIB price has been seen to be quite volatile as it trades back into the $0.00001290 range.

However, the fact that the price closed above $0.00002 at the end of 2024 adds confidence to the ongoing structure. This current level is now seen as a base for further upside, as analysts predict a 528% rally is looming.

Shiba Inu Price Technical Structure Supported By Bullish Divergence

Taking a closer look at the chart, it’s evident that SHIB is forming a classic 'hidden bullish divergence,' usually a sign of underlying strength. This pattern arises when price action makes higher lows, while indicators like RSI or MACD are registering lower lows.

Marks highlighted that this type of divergence suggests buyers are still present, even as momentum indicators suggest short-term weakness. Such a setup usually favors a continuation of the existing trend.

With SHIB holding above the breakout level while forming higher lows, it further strengthens its technical positioning.

Those watching the technicals will also be interested in a breakout from the current consolidation, which could propel the token towards higher resistance levels if volume increases.

Shiba Inu Long-Term Holder Count Rises

On-chain data from IntoTheBlock is showing that there has been a sustained increase in the number of SHIB holders who are holding the token for more than one year.

These long-term holders have been accumulating steadily since mid-2022 and the trend continues in early 2025.

This build-up occurs during both rallies and corrections, highlighting an ongoing accumulation activity. A broader base of long-term holders usually reduces selling pressure, which supports price stability and helps maintain key support zones.

It is also noteworthy that the number of short-term traders, who typically hold for less than one month, has decreased by 36.5%.

This reduction in speculative behavior, often linked to increased volatility, showcases SHIB becoming a more mature asset in the market.

Cruisers, or holders with a holding period between one and twelve months, have seen a smaller increase of 3.15%, which aligns with the view that investors are shifting away from short-term trading and toward medium to long-term positions.

Shiba Inu Token Burn Reaches 278%

Elsewhere, according to data from Shibburn, SHIB’s token burn activity has increased sharply. Over the past 24 hours, 2,219,043 SHIB tokens were burned, which marked a 278.42% increase. Over the past seven days, 313,950,965 tokens were removed from circulation—up 324.14%.

HOURLY SHIB UPDATE$SHIB Price: $0.00001295 (1hr 0.36% ▲ | 24hr -0.96% ▼ )Market Cap: $7,628,012,744 (-1.00% ▼)Total Supply: 589,251,675,004,626

TOKENS BURNTPast 24Hrs: 2,219,043 (278.42% ▲)Past 7 Days: 313,950,965 (324.14% ▲)

— Shibburn (@shibburn) May 5, 2025

SHIB’s burn mechanism reduces supply and is designed to increase scarcity over time. As more tokens are burned, the supply becomes more limited, impacting the price in the presence of demand.