Analyst: SHIB will soon have a strong upward price movement

Shiba Inu is attracting attention in the cryptocurrency market as analysts observe price patterns that may indicate a significant increase. Technical analysis of SHIB's weekly chart shows potential for a breakthrough, with an expected target of 0.000066651 dollars. Recent price fluctuations have shown the mixed performance of the token. Over the past 24 hours, the cryptocurrency has recorded a modest increase of 0.04%, while the more notable seven-day increase is 16.08%. However, the monthly performance of the token is not very optimistic, reflecting a decline. Despite these fluctuations, the market trend shows that SHIB is experiencing strong growth across both higher and lower timeframes, setting the stage for potential price increases. Cup-and-Handle pattern signals a bullish trend A technical analyst operating under the pseudonym 'Strong' on X has highlighted a cup and handle pattern on the weekly chart of the token. This pattern often indicates a consolidation phase followed by a breakout, supporting a price target of $0.000066651. The analysts have linked this potential breakthrough to SHIB's position as the largest ERC-20 token on Ethereum and its proximity to breaking out of a multi-year downtrend. They also note that assets may follow a "gradual acceleration" pattern, with a strong upward move expected when the breakthrough occurs. Please provide the text to be translated. The price increase indicators on a lower time frame Market analyst Javon Marks has identified additional price increase signals for SHIB on lower timeframes. He observed that this token has recently surpassed a significant resistance trendline, coinciding with a recovery to $0.00002108. Marks emphasizes the importance of the asset maintaining its position above $0.00002 as a solid foundation for further price growth into 2025. Marks has outlined two potential price targets: a short-term target of $0.000081, corresponding to the resistance level from the previous cycle, and a long-term target of $0.000155 for the current uptrend market. These forecasts highlight significant growth potential for the token if the current upward momentum is sustained. The potential breakthrough from the decreasing channel. Additional analysis from Rose Premium has identified a descending channel in SHIB's daily chart, originating from a local high of 0.00003343 dollars. A breakout above this channel could steer the asset towards key price targets. Rose predicts three potential levels for the token after such a breakthrough: $0.00003236 is the short-term target, $0.00003870 is the intermediate target, and $0.00004349 is the long-term target. However, achieving these targets depends on the token maintaining a stable price increase. Recent performance, along with the asset's increasing technical indicators, positions it as a notable cryptocurrency. Although its price is still influenced by market trends and investor sentiment, analysts agree that SHIB has the potential to achieve significant gains if it successfully breaks through key resistance levels.