▲ Shiba Inu (SHIB)

Shiba Inu (SHIB) has drawn significant investor attention as it stabilizes at a strong technical support level after more than a year of decline, raising the possibility of an explosive rebound of up to 500%.

According to a report by cryptocurrency media outlet NewsBTC on March 6, SHIB remains at its lowest level in two years, having plunged more than 93% from its all-time high in 2021. However, analysts note that the support line of a falling wedge pattern remains firmly intact. Crypto analyst Jonathan Carter assessed that SHIB’s current positioning presents an optimal entry point that could trigger the next upward wave.

Based on Carter’s analysis, SHIB is forming strong support around $0.0000054. Despite multiple attempts to break lower, buying pressure has successfully defended this level, indicating that energy is building for a potential rebound. “Buyers are consolidating and strength is building during this phase,” Carter said, identifying $0.0000054 as the most attractive entry price for investors seeking discounted positions.

If a full-scale rally begins, SHIB must first overcome resistance at $0.0000068 and the psychological barrier of $0.00001. A subsequent breakout above $0.000013 and $0.000016 would mark more than a threefold increase from the bottom, signaling a clear uptrend. The strongest resistance is expected near $0.000022, and if this level is surpassed, the path would open toward Carter’s final target of $0.000033.

The analyst highlighted a strategy of buying at $0.0000054 and selling at $0.000033 as an optimal profit model. This represents a potential gain of over 500% from current levels, a figure considered achievable given SHIB’s history of explosive volatility. However, the pace of breaking through resistance levels may vary depending on macroeconomic uncertainties and shifts in overall crypto market liquidity, making it essential to closely monitor progress toward each target.

Shiba Inu now stands at a critical technical crossroads, potentially marking the end of a prolonged downtrend and the beginning of a rebound. As long as the $0.0000054 support level holds, bullish momentum is likely to persist. Should broader market leaders such as Bitcoin (BTC) provide supportive momentum, the distinctive firepower of meme coins could once again shake the market. Investors are advised to focus on volume changes at key resistance zones rather than short-term fluctuations and to carefully assess whether a long-term trend reversal is underway.

Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. The publisher is not responsible for any investment losses incurred based on this content.

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