- SHIB forms final shoulder before breakout zone
- 512% rally possible if $0.000019 resistance breaks
- Burn rate spikes 1,300% as supply tightens
Shiba Inu (SHIB) continues to consolidate within a notable inverse Head & Shoulders pattern. As the token appears to be completing the final right shoulder of this formation, market watchers are closely observing for a potential breakout. A confirmed pattern breakout could point to a rally target of $0.000081, over 512% above current price levels.
Resistance Levels May Delay Breakout
Shiba Inu recorded an 18% price increase between April 18 and April 25, rising from $0.0000118 to $0.0000139. This move happened with increasing volume, which pointed to growing activity during the recent price climb. However, SHIB now faces a major resistance zone between $0.000014 and $0.000019.
A large portion of holders bought within this range, and they could add selling pressure. According to analysis prepared by market trackers, over 538 trillion SHIB are held across 145,600 wallet addresses in this zone. This supply may weigh on future attempts to push the price higher.
Only 15.03% of addresses are currently in profit, while more than 82% are at a loss. With many holders waiting to recover positions, upward moves may trigger exits from those seeking to limit losses. These factors may slow the next potential leg of the rally.
Technical Setup and Burn Rate Offer Support
According to an observation by ALLINCRYPTO via X, SHIB is completing a large Inverse Head & Shoulders formation. This pattern often indicates a reversal to an upward trend if the neckline is broken with strength. Prices now appear to be in the final right shoulder phase, a key point before confirmation.
In addition, recent burn activity supports a bullish narrative. Over the last 24 hours, SHIB’s burn rate rose by 1,300%, with 27.82 million tokens removed from circulation. Analysts tracking this development believe this reduced supply could ease selling pressure in the near term.
Together, the technical structure and burn activity are contributing to a scenario where SHIB could move toward the breakout target at $0.000081. This would represent a gain of over 512% from current levels, assuming key resistance is cleared in the short term.
