Summary
- Analyst “Illagodzilla” predicts a “face-melting” 1,346% rally for Shiba Inu
- Double bottom chart formation suggests massive upside potential
- Strategic “big bang buy” entry point identified at $0.00000808
- Primary target at previous ATH ($0.0008854) with secondary target at $0.0000173
- Recent positive price action despite broader market weakness
Technical Pattern Signals Massive Upside
Shiba Inu (SHIB) may be approaching a critical turning point after four consecutive months of decline. According to pseudonymous analyst “Illagodzilla,” the second-largest meme coin is completing a bullish double bottom formation on its monthly chart that could trigger an explosive upward movement.
The first bottom appeared in June 2023, followed by a rebound to the March 2024 high of $0.4567, establishing the pattern’s neckline. After correcting 73% from this high point, SHIB is now approaching the base structure where the second bottom would form.
Strategic Entry Point and Target Zones
The analyst hasn’t simply identified the pattern—they’ve pinpointed a specific entry level at $0.00000808, calling it the “big bang buy” opportunity. This would require another 56% correction from SHIB’s current price of $0.00001196.
“This level would not only complete the W-shaped bullish structure but also serve as an optimal entry position for new investors and a dollar-cost averaging opportunity for existing holders,” Illagodzilla noted in their TradingView analysis.
Upon completion of this pattern, two significant targets emerge. The first represents a 640% increase to $0.0008854, equivalent to SHIB’s previous all-time high from October 2021. The second, more ambitious target suggests a 1,346% rally to $0.0000173, which would establish a new record high.
Recent Momentum and Developer Hints
Despite predictions of further downside before the major rally, Shiba Inu has shown recent signs of strength, gaining nearly 2% amid broader market weakness. This positive momentum aligns with cryptic comments from lead developer Shytoshi Kusama, who recently hinted that “something big is on the horizon” for the project.
Illagodzilla’s forecast isn’t isolated. Other analysts have made similar bullish projections, with Oscar Ramos suggesting SHIB could reach $0.00017 this year, calling it a “realistic target.” Additionally, the Shiba Inu development team recently endorsed an analysis projecting a surge to $0.0001833.
The bigger test for SHIB will be whether it can first reach the predicted entry point before initiating its potential rally. Investors should consider their risk tolerance before making any decisions based on these technical projections.