Shiba Inu Re-enters 'Explosive Rally Starting Point'...Another 1660% Surge Coming?

▲ Shiba Inu (SHIB)/AI Generated Image

Shiba Inu (SHIB) has re-entered the key accumulation zone that led to its past massive surges, raising expectations for a repeat of historical rallies.

According to the cryptocurrency media outlet The Crypto Basic on April 20 (local time), analyst Crypto Patel analyzed that Shiba Inu has returned to the accumulation zone that formed right before its past explosive rallies. This zone was a price range where strong buying pressure from investors concentrated in the past, becoming the starting point for large-scale surges.

Shiba Inu is currently consolidating its price within a specific range, showing a trend of compressing volatility. This zone overlaps with a key support level that led to an approximately 1,660% increase in 2021, and also where a surge of over 700% occurred in 2024. With a similar pattern recurring, it is evaluated that SHIB has entered a technically important transition zone.

In particular, as it approaches the end of the descending resistance trendline, the possibility of a directional breakout is highlighted. Analysis suggests that strong upward momentum could occur if the energy accumulated in the accumulation zone is released.

In an optimistic scenario, a rebound based on this support line could lead to a parabolic upward trend. Patel predicted that if sufficient momentum builds, the price could surge by nearly 2,200%. This would mean a re-approach to its past all-time high.

On-chain data also supports a positive trend. Over the past 24 hours, large volumes of assets have moved from exchanges to external wallets, resulting in negative net inflows. This is interpreted as a signal that investors are opting for long-term holding strategies rather than short-term selling.

The market is paying close attention to whether Shiba Inu can replicate its past explosive surge. The sustained buying pressure in the accumulation zone, along with the overall altcoin market sentiment, are considered key variables that will determine the future trend.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*