Shiba Inu Price Jumps 13% as Technical Analysis Points to 246% Rally Potential

TLDR:

• Shiba Inu recorded a 13% price increase on Sunday amid continued 2026 meme coin market momentum.
• A technical breakout from the descending wedge pattern confirms bullish divergence with a $0.000032 price target.
• The top 10 wallets control 63% of the supply, with the largest holder owning 41% worth approximately $3.3B.
• Derivatives data shows $1.11M in long positions versus $705K in shorts at key $0.0000078-$0.00000844 levels.

Shiba Inu recorded a notable price increase of 13% on Sunday, continuing the meme coin momentum observed throughout 2026. 

The price movement comes amid concentrated wallet holdings, with the top 10 addresses controlling nearly 63% of the total supply. 

Meanwhile, technical analysis suggests the asset may be entering a more expansive upward phase. Derivatives data further supports the bullish case, showing traders positioning for continued gains.

Technical Breakout Confirms Bullish Divergence Pattern

The recent price action follows months of consolidation within a descending wedge formation. This pattern typically forms when an asset prints lower highs while maintaining gradually rising lows. 

Such structures often indicate seller exhaustion rather than continued downward pressure. As the wedge tightened, momentum indicators began showing divergence from price movement.

Analyst JAVONMARKS highlighted the bullish divergence pattern on X. The oscillator displayed higher lows even as price continued drifting lower. This divergence suggests downside momentum was weakening before price responded. 

Notably, the momentum indicator broke its downtrend before price action confirmed the move, serving as a leading signal. Such divergences often precede meaningful directional changes in cryptocurrency markets.

The breakout above the wedge resistance marks a transition from compression to expansion. When price escapes such confined ranges, trapped short positions and waiting buyers can accelerate movement. 

The asset has now entered a low-resistance zone following the structural break. The projected target near $0.000032 aligns with previous supply zones and the measured move calculation. This represents a potential 246% gain from current levels.

Wallet Concentration and Derivatives Data Support Rally

Data from Santiment reveals concentrated ownership among large holders. The 10 largest wallets control approximately 63% of the circulating supply. 

The single largest wallet holds roughly 41% of all tokens, currently valued at around $3.3 billion. This concentration level can create volatile price swings depending on holder behavior.

Beyond technical patterns, derivative markets show strong positioning. According to CoinGlass data, intraday traders have built concentrated positions at key price levels. 

The lower boundary sits at $0.0000078, while the upper range reaches $0.00000844. At these zones, market participants have established substantial leveraged exposure.

The leverage distribution favors bullish positions. Long-leveraged positions total approximately $1.11 million compared to $705,550 in short-leveraged trades. This imbalance suggests traders anticipate further upside movement.

However, heavy leverage at specific levels also creates potential for rapid liquidations should the price move against prevailing positions. The combination of technical breakout, bullish divergence, and favorable derivatives positioning presents a case for continued momentum.