- Heber Mayen identifies Shiba Inu approaching triangle apex after consolidation since ATH
- Token trades at $0.00001323 following 3.65% monthly gain despite recent weakness
- Shib Spain projects potential new all-time high requiring 568% price increase
Community analyst Heber Mayen has suggested Shiba Inu could be approaching an explosive breakout from a long-term technical pattern. In a recent social media post, Mayen shared SHIB’s one-month price chart showing the token gaining 3.65% over 30 days to reach $0.00001345.
The chart analysis reveals Shiba Inu consolidating within a descending triangle formation characterized by successive lower highs since reaching its peak at $0.00008845. According to Mayen’s assessment, SHIB has approached the triangle’s extreme low point, suggesting a decisive directional move may be imminent.
Technical Patterns Point to Critical Juncture
Current market data shows Shiba Inu trading at $0.00001323, down 1.33% over the past 24 hours and declining 1.03% during the previous week. Despite short-term weakness, the token maintains positive monthly performance with an 8% gain over recent weeks.
Mayen’s analysis focused on the technical setup rather than providing specific price targets or timelines for the projected breakout. The descending triangle pattern typically resolves with either upward or downward momentum as price action reaches the pattern’s convergence point.
Additional community support for bullish scenarios comes from analyst Shib Spain, who anticipates SHIB bouncing from its current support zone between $0.00001270 and $0.00001347. Spain’s analysis suggests this rebound could initiate sustained upward movement toward new price highs.
The analyst projects that with sufficient momentum, SHIB could surpass its October 2021 all-time high of $0.00008845. Achieving this level would require approximately 568% gains from current trading prices, pushing the token to $0.0000885.
Such projections assume that current support levels will hold and that buying interest will increase sufficiently to drive sustained upward movement. However, descending triangle patterns can also resolve with downward breakouts if support fails to maintain.
The community analysis occurs as Shiba Inu continues operating within established trading ranges that have persisted for several months. Breaking above recent resistance levels would need to be accompanied by increased trading volume to confirm bullish momentum.
Market participants should note that meme token predictions often involve high volatility and speculative elements that make price forecasting particularly challenging. Technical patterns provide frameworks for analysis but do not guarantee specific outcomes in cryptocurrency markets.
