SHIB Technicals Hint at Massive 500% Surge After Extended Downtrend

Shiba Inu targets $0.000081 with a bullish setup supported by breakouts, retests, and a hidden bullish divergence from 2023 patterns.SHIB eyes a 500% rally as it holds support near $0.000013, showing resilience after a multi-wave decline and strong recovery signs.With 44 bullish candles in 75 bars and rising volume, SHIB shows technical strength that aligns with long-term breakout projections.Shiba Inu (SHIB) remains on track for a breakout toward $0.000081, representing a projected 500% price surge. This forecast, shared by analyst Javon Marks, reflects a bullish long-term outlook. SHIB currently trades near $0.000013, below its peak but well above its cycle lows. According to Marks' technical view, the roadmap to this target remains intact despite previous volatility.The TradingView data highlights SHIB's multi-year behavior from 2021 to projected 2027. It identifies key support and resistance levels, notably $0.000053 and $0.000081. The analysis centers on major technical patterns including breakouts, hidden bullish divergence, and retests. These indicators often signal strong trend reversals.Historic Surge and Multi-Wave DeclineShiba Inu exploded in early 2021, soaring to $0.0000735—a jaw-dropping 975% gain. This rally marked its all-time high. However, the surge was followed by a steep correction. SHIB declined in three clear downward waves across late 2021 and early 2022. Each wave brought progressively lower lows. Consequently, the price eventually found strong support near the $0.000008 level.Source: Javon MarksBesides the correction, SHIB formed a major breakout mid-chart. This event reversed the bearish trend temporarily. It was followed by a crucial retest phase, which successfully held previous support levels. Moreover, the chart identified a “Hidden Bullish Divergence,” which often precedes bullish momentum.Recent Recovery and Current SetupAfter bottoming out, SHIB began a volatile recovery through 2023 into 2024. The price formed several swing highs and lows during this phase. Currently, the token trades around $0.000013, well below the all-time high but showing relative strength.Additionally, the analysis emphasizes recent bullish activity. SHIB recorded 44 bullish bars out of 75, with volume at 78.74. This suggests increased interest and buying pressure at current levels. Hence, the technical setup continues to support the bullish narrative.The post SHIB Technicals Hint at Massive 500% Surge After Extended Downtrend appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.