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.
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.
Sui (SUI) surged 14% in the past 24 hours, reaching $4.26 as bullish technical patterns, Bitcoin’s rebound, and renewed ETF speculation pushed the altcoin higher.
Hedera Hashgraph (HBAR) is closely tracking its 2021 price behavior, according to crypto analyst Rekt Capital.
Stellar (XLM) is once again approaching a decisive technical moment after facing a familiar rejection at the $0.52 resistance zone.
The crypto market is showing signs of cautious optimism. While prices remain elevated, sentiment indicators and trading activity suggest investors are stepping back to reassess risks rather than diving in further.