Optimism toward the popular dog-themed meme coin, Shiba Inu, is gaining traction following a recent price rebound at the beginning of the week triggered by a positive market sentiment. Despite recent price fluctuations, several analysts are confident that SHIB is still capable of a short-term rally.

Shiba Inu Undergoes Key Bullish Breakout

Market expert and enthusiast, Javon Marks, has reaffirmed his bullish prediction for Shiba Inu, underscoring that the meme coin’s trajectory toward the $0.000018 level is still firmly in place. This positive view is consistent with the altcoin market’s general optimism, where SHIB’s recent consolidation phase may serve as the basis for an expected breakthrough toward the target level.

The analyst’s forecast is based on a validated breakout from key bullish patterns and technical indicators, which suggest that SHIB is on a path to a near-term rally. According to the expert, on the daily chart, Shiba Inu has maintained its breakout and verified a bull pattern with the Relative Strength Index (RSI). Thus, the overall target for SHIB remains at $0.000081.

Javon Marks also underlined that the meme coin’s next leg up towards the aforementioned price level is further bolstered by a breakout from a falling wedge pattern, demonstrating his confidence in Shiba Inu’s potential.

A falling wedge is a technical chart pattern that forms during a downward trend and suggests a

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Author: Godspower Owie