Technical analyst Javon Marks has reiterated his breakout target for Shiba Inu, which would mark an approximate 528% increase from its current levels. Amid this bullish projection, Shiba Inu has been trading at $0.0000129, down 0.4% from its intra-day high. The meme coin has also declined by 7.4% in the past 7 days, although the longer time frame is rather positive. Road to $0.000081 Despite this performance, crypto analyst Javon Marks has reiterated his earlier prediction that Shiba Inu’s price could reach $0.000081 this cycle. This follows a successful retest of the breakout level that saw SHIB price rally to a seven-month high of $0.00003329 in December 2024. The rally was followed by a pullback, which brought the price back to a low of $0.0000108. According to Marks, this correction phase was expected and confirmed SHIB’s technical structure. Since then, the SHIB price has been volatile and is trading around the $0.00001290 range. However, the price closing above $0.00002 at the end of 2024 added confidence to the ongoing structure. This current level is now seen as a base for further upside, as analysts predict a 528% rally is looming. Technical Structure Supported by Bullish Divergence SHIB’s chart shows a hidden bullish divergence forming, which is generally seen as a sign of underlying strength. This pattern occurs when price action makes higher lows, while indicators like RSI or MACD form lower lows. Marks pointed out that this type of divergence suggests buying pressure is building up, even as momentum indicators reflect short-term weakness. This setup often leads to the continuation of the existing trend. Holding above the breakout level while forming higher lows reinforces SHIB’s technical positioning. Market watchers are monitoring for a breakout from the current consolidation, which could send the token toward higher resistance levels if volume increases. Long-Term Holder Growth Reflects Investor Confidence On-chain data from IntoTheBlock confirms a rise in SHIB holders who have held the token for more than one year. These long-term holders have increased steadily since mid-2022 and continued into early 2025. This growth occurred during rallies and corrections, pointing to consistent accumulation. A growing base of long-term holders can reduce selling pressure, which supports price stability and helps maintain key support zones. Notably, the number of short-term traders who hold for less than one month has dropped by 36.5%. Shiba Inu Balance by Time Held This decrease in speculative behavior, often linked to reduced volatility, shows that SHIB is becoming a more mature asset in the market. Cruisers, or holders with a holding period between one and twelve months, have grown by 3.15%. This trend supports the view that investors are shifting from short-term trading to medium and long-term positions. Burn Activity Adds to Bullish Sentiment Elsewhere, according to data from Shibburn, SHIB’s token burn activity has increased sharply. Over the past 24 hours, 2,219,043 SHIB tokens were burned, which marked a 278.42% increase. Over the past 7 days, 313,950,965 tokens were removed from circulation—up 324.14%. HOURLY SHIB UPDATE$SHIB Price: $0.00001295 (1hr 0.36% ▲ | 24hr -0.96% ▼ )Market Cap: $7,628,012,744 (-1.00% ▼)Total Supply: 589,251,675,004,626 TOKENS BURNTPast 24Hrs: 2,219,043 (278.42% ▲)Past 7 Days: 313,950,965 (324.14% ▲) — Shibburn (@shibburn) May 5, 2025 SHIB’s burn mechanism reduces supply and is designed to increase scarcity over time. As more tokens are burned, the supply becomes more limited, supporting upward price movement if demand remains steady or grows.