Recently, the Shiba Inu (SHIB), which has attracted significant attention in the Crypto Assets market, is testing an important price range. This range has served as a support base since the beginning of 2022, and its performance within this range will have a major impact on future trends.

Crypto Assets analysts point out that the level between $0.00001090 and $0.00001190 is the main demand area for SHIB. The trend in this range could determine the price direction of Shiba Inu for the remainder of this year, with potential upside reaching $0.00008836.

Analysts emphasize that investors should closely follow this long-term support area. Since 2022, this area has been tested multiple times, playing a crucial role in stabilizing prices and alleviating selling pressure each time. According to forecasts, the long-term target price for SHIB could reach $0.00007870 and $0.00008836, representing an expected increase of 514% to 589% from the current price. These target price levels align with SHIB's historical highs and are considered key supply areas.

Currently, the trading price of Shiba Inu is $0.00001281, up 3.5% in the last 24 hours, with a monthly increase of 8.3%. If it can break through $0.00001580, especially with an increase in trading volume, it may signal a trend reversal and the end of the current consolidation phase.

However, analysts also warn that despite the signs of accumulation, caution is still needed regarding the risk of a bearish breakout. If SHIB falls below $0.00001090, it may indicate a weakening trend, triggering a deeper correction. The lower support levels are at $0.00000900, $0.00000700, and $0.00000550. A drop to these levels could mean that the market is shifting from the accumulation phase to the distribution phase, and lower price points may emerge.

Interestingly, the current price structure is being compared to the "spring" pattern in Wyckoff theory, which typically occurs before a strong upward movement. It may involve a false breakout below the support level before a significant rebound begins.

Another analyst observed a bullish divergence signal on the two-day chart, expecting Shiba Inu to be ready for a breakout. He predicts that from the current confirmation level near $0.0000125, the price could rise by 156%, targeting a price level of $0.000032, which would be the highest level since March 2024.

Overall, Shiba Inu is currently in a critical price range, and its future trend has attracted widespread attention in the market. Investors should closely monitor price movements while cautiously assessing potential risks and opportunities.