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Pseudonymous analyst MMBTtrader described the current Shiba Inu market as “dead” and frustrating for investors, warning that if the trend continues, $SHIB risks falling out of the top 40 cryptocurrencies.
Despite this, the analyst noted that $SHIB is still holding two key daily supports, which could enable a strong breakout if a red descending trendline is breached.
A Potential 600% Rally Back to Historic Highs
According to the market watcher, Shiba Inu has a long-term upside target of more than 600% if price clears its key resistance.
The outlined move reflects a direct comparison to $SHIB’s historical peak, which the analyst uses as the reference point for the 600% rally.
The 200% Target as a Key Barrier
In a separate analysis, MMBTtrader also outlined a 200% upside target for Shiba Inu, placing it near $0.00003364. Notably, the price reached this zone in March 2024 and again in December 2024, but on both occasions, sellers eventually outweighed buyers, leading to strong pullbacks.
As a result, this repeated rejection has reinforced the level as a significant resistance barrier. Importantly, clearing this threshold is now considered essential for $SHIB to unlock higher targets.
Meanwhile, until a breakout occurs above $0.00003364, upside progress remains limited, with further targets such as the 400% and 600% levels staying dependent on overcoming this established barrier.
Major Supports and the Path to A 400% Target
Moreover, the analyst identifies two major support zones for Shiba Inu at $0.000006 and $0.000010, which have previously marked turning points for upward rallies.
Meanwhile, the key resistance at $0.00003364 remains the crucial gateway to higher gains. A clear break above this threshold would pave the way for a 400% rally, a level last achieved in November 2021.
Importantly, maintaining these supports while overcoming resistance would establish the structure needed for $SHIB to progress toward long-term objectives.
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