Coinpaper 2026-03-11 12:34:30

Shiba Inu Price Prediction: Analyst Targets $0.0000311 After Wedge Breakout

Shiba Inu is approaching a critical technical threshold. Analysts are watching closely as the meme coin forms a falling wedge pattern on its 12-hour chart. A confirmed breakout could trigger a price surge of more than 455%, based on historical precedent. The token recorded consecutive green daily closes this week for the first time in nearly a month. Tuesday's session saw a 4% gain, building on a 2% rise the previous day. Despite a higher price rejection visible on the candlestick, underlying momentum appears to be shifting. At the time of writing, Shiba Inu is trading at around $0.00000568, down 0.93% in the last 24 hours. The memecoin is down roughly 83% from its December 2024 peak. The prolonged compression has lasted several months, and chart analysts say the structure is nearing resolution. Falling Wedge Signals Potential Breakout Market analyst Javon Marks identified a falling wedge structure forming on the SHIB/USDT 12-hour chart. The pattern has been in place since SHIB's December 2024 high of $0.00003343. Since then, the token has posted lower highs and lower lows within the channel. The upper resistance and lower support lines have steadily compressed price action. Long candlesticks have been replaced by shorter ones. This reduction in volatility is a classic precursor to a breakout. The narrowing range signals that a decisive move is approaching. History Points to a 455% Price Surge This is not the first time SHIB has formed this pattern. In April 2022, the token entered a similar falling wedge after a lower-high push that peaked at $0.0000300. It remained compressed within that structure for 18 months. The breakout came in October 2023. Following that breakout, SHIB surged over 455% to its March 2024 high of $0.00004567. That represented a 5.6x return from the breakout level. Investors who accumulated during the consolidation period saw substantial gains. Marks drew a direct parallel between that period and the current structure. He stated that SHIB could be gearing up to repeat the move. A 455% advance from $0.00000560 would lift the token to approximately $0.0000311, a level that closely aligns with the December 2024 high of $0.000033.

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