Shiba Inu price attempted to rebound yesterday but without success. Today, August 5, SHIB trades at $0.0000127 with a 0.27% decrease in 24 hours. However, an analyst opines that Shiba Inu can get to $0.000016. His forecast comes when both whale transactions and exchange outflows are rising.
Shiba Inu Gears for 30% Surge as Analyst Spots Wedge Pattern
Analyst SHIB Knight believes SHIB has a shot at reaching $0.000016, thanks to a falling wedge pattern that has been taking shape. While this pattern does not guarantee a rally on its own, it often points to a shift in momentum, but only if the price moves above resistance.
That breakout appears to be underway now. SHIB Knight notes that the price of Shiba Inu has already moved above the wedge’s upper line, a sign that the token could be gearing up for a bigger move. How far the price will rise after this pattern forms depends on the height of the support to resistance. The analyst says that this might take Shiba Inu to $0.000014 or $0.000016. In case of the latter, a 33% surge might be on the cards for SHIB.
However, SHIB Knight did not omit the fact that this all depends on momentum. Currently, there might be some momentum. CoinMarketCap shows that trading volumes have surged by 40% in the last 24 hours. This means buyers are becoming interested in this top meme coins.
A 30% rally for the Shiba Inu price is only for the short term. As for the long-term Shiba Inu price forecast 2025, more gains might be on track.
Whale Transactions and Exchange Inflows Surge
There were growing concerns recently that SHIB whales had exited the scene. However, fresh on-chain data is starting to ease those worries. Large holders now seem to be returning, hinting at renewed interest and a possible shift in sentiment around SHIB.
Per IntoTheBlock data, whale transactions increased from 2.7 million to 26.2 million on Monday. That means that in 24 hours, they surged by more than 870%.
What could be bringing whales back is network activity. CoinGape reported that Woofswap has proposed a Shibarium update. If this happens, Shibarium might become faster. This will end up being good for the Shiba Inu price. The SHIB coins that are being taken out of exchanges are surging. In fact, they have become more than the coins entering exchanges. This can be seen on Coinglass data, which shows that in just two days, $3.4 million worth of Shiba Inu has exited these platforms.
Therefore, analyst SHIB Knight might be right in his forecast that the Shiba Inu price is going higher. However, this only applies if the whale comeback is sustained. Additionally, the more SHIB goes out of exchanges, the bigger the room left to allow gains. The overall crypto market is also recovering and it’s only a matter of time SHIB also joins other altcoins. This is probably the right time to start DCA considering ongoing geopolitical concerns and Trump Tariffs.
Frequently Asked Questions (FAQs)
Shiba Inu can rebound if there are gains in the broader crypto market and new buyers jump in.
Analysts are bullish on Shiba Inu because of a falling wedge on the lower four-hour timeframe, suggesting recovery is possible.
Whales tend to buy low and sell high. Therefore, if their transactions are increasing, it means there is room for the SHIB price to surge.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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