Can SHIB reach 0.00001200? Institutional outlook after the falling wedge breakout

Question

【Crypto World】Regarding the recent trend of SHIB, an interesting development has occurred— the project’s market leader Lucie has recently provided a bullish target price: $0.00001200. This target aligns with the view of a certain technical analyst, who pointed out through chart analysis that SHIB has broken out of a descending wedge.

Currently, SHIB is trading around $0.00000865, with a 3.62% increase in the past 24 hours. The gain is not very dramatic. But it’s important to note that from the all-time high of $0.00008845 in October 2021, there is still about 90% space to go. At this price level, it still needs to rise nearly 4 times to reach the officially favored $0.00001200.

Coincidentally, the project team has also launched the “POU” compensation plan— a payout scheme for users who lost over $3 million due to the Shibarium network security incident. From the compensation measures to the positive technical outlook, the project team is clearly signaling optimism.

SatoshiHeir · Accepted Answer

It should be pointed out that this narrative logic has obvious flaws. The so-called "descending wedge breakout" must meet three conditions to be valid according to a technical analysis framework at the white paper level—and on-chain data shows that SHIB currently only satisfies two of them. The third critical condition probably still needs to wait.

Undoubtedly, the official figure of 0.00001200 appears to be based on technical patterns, but in reality, it resembles a carefully designed price consensus game. The 90% distance from the high sounds very attractive, but have you asked yourself why—this precisely indicates that the market has not fully priced in its value.

That said, the move to simultaneously launch a compensation plan is indeed a bit particular.

GasFeeSobber · Answer

Haha, I really can't believe the project team calling out target prices themselves. This routine has been played out.

4x increase? Come on, let's wait and see.

The POU compensation plan feels like just cleaning up after previous issues.

Has everyone already forgotten about Shibarium? Bringing it up now is quite interesting.

Wedge breakout sounds very professional, but I've been numb to this kind of jargon in the crypto world.

0.00001200? I bet five cents it won't go up.

90% room for growth sounds scary, but I've never seen a real return.

TheShibaWhisperer · Answer

0.00001200? Ha, here comes another "officially optimistic," I'm tired of this routine

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A 4x increase... let's wait and see for now, there are too many people shouting confidence

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POU compensation plan, is this to restore trust or cover up something?

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90% room for growth sounds great, but the real question is whether it can return to 0.00008845

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Breaking out of a wedge pattern is within the realm of "possibility," but who knows

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The project team calling for a rise, plus a compensation plan... what does this combo mean?

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A 3.62% increase isn't really worth watching, still need to observe

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The number 0.00001200 feels like a randomly chosen target price

EternalMiner · Answer

Here comes the hype again for small investors, talking about a 4x increase easily, but what's the reality?

The project team announcing their own target price—this move really confuses me...

POU compensation plan? Feels more like a PR stunt before fixing the漏洞

NFT_Therapy_Group · Answer

Wait, another wedge breakout? How many times has this trick been played out already, give it a rest.

Honestly, only 4x to reach 1200? Feels like Lucie is just hyping up expectations...

Daily target prices, when will there really be a rally?

Compensation plan is out? Feels more like comforting retail investors...

0.00001200 is still far away, might as well focus on projects with real applications.

This rhythm... has a familiar flavor, another round of leek-cutting scheme?

MEVHunterBearish · Answer

4x? Just listen and don't take it seriously

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Lucie's signals, I trust you, and you'll lose

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POU compensation plan, here comes the routine to cut new leeks again

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Breakout of the descending wedge? Technical analysts' words are worth less than air

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From 0.00000865 to 0.00001200, easy to say, what about the capital scheme

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A $3 million vulnerability can be "compensated" with a plan to fool people, you really know how to play

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This rhythm is familiar, first promote the target price, then release the compensation plan, wait for the bagholders to take the bait

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Still 90% away from the all-time high, now rushing in, isn't it just to bury the trapped?

IfIWereOnChain · Answer

Here we go again with the stories, a 4x increase? I’ll just listen and see.

Is a wedge breakout really worth bragging about? Technical folks’ work isn’t that impressive either.

Is the compensation plan real, or just another new trick to harvest retail investors?

0.00001200 is still far from now, let’s wait until the bear market passes.

When the project team announces a target price, what’s the use? The market is the real boss.

TradFiRefugee · Answer

The project team calling their own signals always feels a bit... you know what I mean?

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4x increase? Bro, you're dreaming. I've seen plenty of SHIB-like behavior.

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Both compensation plans and bullish targets, almost saying "buy buy buy."

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0.00001200? Sounds pretty far off. Might as well play something else.

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The question is, who believes the project team’s words? This trick has been seen too many times.

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Breaking out of a descending wedge to get 4x? Who are they fooling with technicals?

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Selling compensation plans along with bullish forecasts, this move... really has a certain flavor.

Can SHIB reach 0.00001200? Institutional outlook after the falling wedge breakout

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