Shiba Inu Coin News Bulls Target $0.00001617 Rally as Shiba Inu Price Breaks Key Support

Shiba Inu (SHIB) is showing serious bullish momentum right now, with traders eyeing three juicy price targets that could deliver solid gains. After bouncing back from recent lows, SHIB is sitting pretty at $0.00001319 and looking ready to make some moves. A popular trader just dropped some technical analysis on X that's got the community buzzing about potential upside.

SHIB Price Targets Look Promising

First target (TP1): $0.00001393 - This represents about a 5.6% pump from current levels Second target (TP2): $0.00001493 - A nice 13.2% gain if SHIB can push through Third target (TP3): $0.00001617 - The big one, offering roughly 22.6% upside potential

Right now, SHIB is chilling around $0.00001319, which traders are treating like a crucial support zone. As long as the price stays above this level, the bullish narrative stays intact and those targets become more realistic.

Why SHIB Bulls Are Getting Excited

The recent bounce in Shiba Inu's price has definitely caught traders' attention, especially after the token showed some serious resilience during the broader market uncertainty. What's really interesting is how SHIB managed to hold key support levels while other meme coins were getting hammered.

The X post that's been circulating shows a clean technical setup with SHIB breaking above some important resistance levels. When you combine that with improving sentiment around altcoins in general, you've got a recipe for potential gains.

Of course, we're dealing with a meme coin here, so volatility is part of the game. But for traders who know how to ride these waves, the current setup offers some decent risk-reward opportunities. The key thing to watch is whether SHIB can maintain momentum above that $0.00001319 support - lose that, and the whole bullish thesis gets thrown out the window.