SHIB Approaches Critical Breakout Point After Prolonged Quiet Phase

After weeks of quiet trading, Shiba Inu (SHIB) may be approaching a major breakout, according to a fresh analysis from CryptoELlTES on X.

The analyst pointed to a large multi-year symmetrical triangle pattern forming on the charts, suggesting the potential for a dramatic move if the pattern resolves upward.

Since hitting its all-time high in October 2021, Shiba Inu has been consolidating between declining resistance and steady support levels, creating a tightening range. Recently, SHIB bounced again off the lower trendline, maintaining the bullish structure.

Why Not a 17 X for SHIB? 🐕

We’re sitting in a strong buy zone, and a big move is coming soon!

Are you ready? 👀#SHIB $SHIB #Shiba $Shiba pic.twitter.com/9ohagxOc0c

— @CryptoELlTES (@CryptooELITES) April 25, 2025

CryptoELlTES believes a breakout above the upper boundary could trigger a surge up to $0.00023 — implying a possible 17X move from current levels.

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Adding to the bullish case, SHIB’s recent price action hints at building momentum. Despite a minor 5.5% dip over the past day, Shiba Inu remains up about 11.5% for April, raising the possibility of its first positive monthly close after five straight months of losses.

Some technical signs also suggest a smaller cup formation within the triangle, which could strengthen the breakout scenario.

At the time of writing, SHIB trades around $0.00001381, with a market cap hovering near $8.14 billion. Whether the broader crypto market can supply the momentum needed for a breakout remains to be seen — but SHIB’s long-term chart setup is catching attention.

Alexander Stefanov