Shiba Inu Price Analysis: Potential for 1,800% Growth Amid Altseason

Crypto analyst Quantum Ascend has created a new weekly-chart “roadmap” for Shiba Inu (SHIB), outlining three potential price targets during an upcoming altcoin cycle. He also cautions that SHIB's prolonged drop over the years could limit its upward movement if larger market conditions worsen.

Key Takeaways

Analyst Quantum Ascend proposes three price targets for SHIB during a potential altseason: $0.47e-8 as a conservative level, $0.00014 as a primary target, and $0.00035 as a blow-off target.
The analyst highlights historical drawdowns, noting that SHIB has experienced a near 93% drop from its 2021 peak, which may hinder its ability to reach new highs.
A bullish scenario indicates the possibility of an 1,800% price rally if broader market conditions align.
Quantum Ascend warns about investing too heavily in SHIB, suggesting strategies like dollar-cost averaging and exit discipline instead.

Shiba Inu price news

The Foundation for Shiba Inu's Price Dynamics

In his recent post on X, Quantum Ascend introduced “Altseason Targets” for SHIB. He defined a conservative target at “$0.47 e-8,” a “Primary” target of $0.00014, and an ambitious “Blow-Off” target of $0.00035. He structured the roadmap using Elliott Wave analysis and Fibonacci extensions, and he pointed out that a bullish outlook is not guaranteed.

Looking back at SHIB’s 2021 peak and the major price drop that followed, Quantum Ascend noted that the price fell back to a historically significant area. He explained this drop using a “crashing pattern” that typically leads to a rebound toward previous highs.

“After five waves down, prices usually rise back up to the fourth wave before aiming to surpass the fifth wave. This can lead to an upward movement followed by a drop,” he explained, indicating a potential new high for SHIB.

Shiba Inu price analysis | Source: X @quantum_ascend

With a new high in sight, Quantum Ascend emphasized the need for realistic price levels based on Fibonacci analysis. However, he noted one major issue: SHIB's significant decline in price compared to previous cycles. “As of now, SHIB has dropped 92% from its peak in 2021. Coins that fell over 90% in earlier cycles didn't achieve new highs afterward,” he cautioned.

He made it clear that if past trends continue, SHIB could follow a larger corrective wave rather than a fresh upward movement. “If this pattern is accurate, we may see further decline before any possible recovery, especially considering the current macroeconomic environment,” he stated.

Evaluating the Optimistic Scenario for SHIB

Despite the risks, Quantum Ascend highlighted potential upside zones by focusing on Fibonacci confluence levels. He set the primary target in an "altseason environment" at the 1.618 Fibonacci extension, around $0.00014, suggesting a remarkable 1,800% increase from current levels. His blow-off scenario could reach $0.00035, although he considers this outcome less likely.

Shiba Inu Fibonacci analysis | Source: X @quantum_ascend

In terms of market cap, he mentioned that SHIB currently has a $4.2 billion valuation, which is substantial. He estimated that reaching his conservative price target could imply a market cap around $25 billion, with the most optimistic scenario potentially exceeding hundreds of billions. “Imagining those numbers for a coin that essentially lacks utility is quite significant,” he remarked.

He stressed the importance of exit strategies despite setting optimistic price targets, mentioning that he does not personally own SHIB. “If I had this coin, I would emotionally sell when it nears my Fibonacci levels, especially around $0.00014,” he concluded, endorsing the dollar-cost averaging approach as beneficial for meme-coin investments, which depend heavily on overall market liquidity and risk appetite.

As of now, SHIB is trading at $0.00000738.

Shiba Inu price chart SHIB falls below another crucial support line, 1-week chart | Source: SHIBUSDT on TradingView.com