[DigitalToday reporter Jinju Hong] Shiba Inu (SHIB) could rise as much as 1,700 percent if it breaks a key resistance level, an outlook showed.

Decrypt, a blockchain media outlet, reported on Aug. 5 that market analyst Crypto Patel said Shiba Inu has entered a long-term accumulation phase and could re-enter its previous peak range if it clears a multi-year resistance line.

Patel highlighted $0.00000537 as the most important price level. It is where a long-term downtrend line meets a horizontal resistance line. Patel said a major shift in market structure would be signaled if Shiba Inu posts a weekly close above the level and then confirms the zone as support. He drew a line, saying the start of a new bull market has not yet been confirmed.

The basis for the outlook is Shiba Inu's repeated long-term price pattern. Patel said Shiba Inu has previously followed strong rebounds after deep corrections. In the 2021 bull market, it rose 1,636 percent to $0.000088 after a prolonged accumulation phase. Between 2023 and 2024, it also gained 740 percent to $0.00004500 after breaking a downtrend line.

Patel said a similar structure is appearing again. He said Shiba Inu re-entered a historical accumulation phase after completing a 95 percent macro correction. He put the current accumulation range at $0.00000400 to $0.00000500. If it breaks above the upper resistance in that zone, he said the first target could be $0.00000670, with the next major resistance at $0.000013. He also presented intermediate targets of $0.000024 and $0.000038, and ultimately mentioned the possibility of reaching the previous all-time high of $0.00008854 again.

Some signals also emerged on the supply-demand side to support a bullish outlook. Patel assessed that long-term investors may be quietly accumulating Shiba Inu, citing declining exchange balances and reduced leverage. In fact, nearly 500 billion Shiba Inu tokens left cryptocurrency exchanges early this week. That was interpreted as a sign that accumulation is continuing.

Still, the case for gains is not entirely solid. Patel acknowledged that Shibarium network activity remains weak. That means Shiba Inu's recent price moves are being driven more by market liquidity and investor sentiment than by ecosystem usage. Shibarium recently processed just 913 transactions a day. That is far lower than at the early peak, when the layer 2 network handled millions of transactions.

That makes the market's next focus clear. The key is whether Shiba Inu can generate a trend-reversal signal above $0.00000537, and whether the outflows from exchanges translate into genuine long-term holding. Conversely, if a recovery in network usage does not follow, expectations for this rally may remain dependent only on price structure and liquidity.