Shiba Inu Price Surges 6.5% as Crypto Investor Predicts Major Breakout

• SHIB surged 6.5% to $0.00001400 after breaking key resistance at $0.00001350, and an acclaimed investor predicted more pumps ahead.

• The memecoin formed a bullish flag pattern with a potential 17.72% upside target that could push prices to $0.0000233.

• SHIB faces weekly chart congestion, but additional bullish candles could trigger sustained rallies and confirm a broader bull run.

Shiba Inu (SHIB) experienced a significant price surge on Monday morning, climbing 6.5% to reach $0.00001400 for the first time in six weeks. The memecoin’s rally has caught the attention of crypto investors and analysts, who are tracking potential bullish momentum in the crypto market.

An acclaimed cryptocurrency investor focusing on Shiba Inu highlighted the development through a post on X, describing the price action as “A Great Candle by SHIB.” The investor predicted this surge would begin substantial price pumps for the popular memecoin.

Technical Analysis Points to Bullish Flag Pattern

The Monday morning surge occurred less than 24 hours after the same investor identified a bullish flag chart pattern on SHIB’s price chart. This technical formation suggests a potential 17.72% upside target that could drive Shiba Inu to $0.0000233 in the coming period.

SHIB’s daily chart on TradingView shows the cryptocurrency successfully broke above key resistance at $0.00001350. The breakout came after several days of testing and retesting this critical level, effectively converting the former resistance into support.

The technical breakthrough demonstrates renewed buying pressure and suggests traders are positioning for continued upward movement. Traders closely monitor whether additional bullish candles will emerge to sustain the momentum.

Weekly Chart Reveals Key Challenges Ahead

While the daily timeframe shows promising signals, SHIB’s weekly chart presents a more complex picture. The memecoin currently trades within a congested area, representing significant resistance on the higher timeframe.

Breaking through this congested region will boost investor sentiment and potentially trigger a sustained rally. The weekly chart analysis suggests SHIB needs to overcome this obstacle to unlock further upside potential.

Additional bullish candles similar to Monday’s performance could push Shiba Inu above the weekly congestion zone and open pathways for extended price gains. The alignment with broader cryptocurrency market trends adds weight to the potential momentum buildup.

Shiba Inu’s price action aligns with typical memecoin behavior patterns, reinforcing its position among the top-tier cryptocurrencies in this category. The surge reflects growing interest in meme-based digital assets as traders seek opportunities in alternative crypto sectors.

Confirming a broader bull run across cryptocurrency markets could trigger additional price pumps for SHIB, matching the investor’s predictions. The memecoin’s performance is a potential indicator for sector-wide movements and trader sentiment shifts.