Shiba Inu Price Jumps 13%, Technical Analysis Points to 246% Upside Potential

Bullish Divergence and Wedge Breakout Signal Potential Move to $0.000032 Target

Shiba Inu price surged 13% on Sunday amid the continued rally in the 2026 meme coin market.

A technical breakout of the descending wedge confirms bullish divergence with a target price of $0.000032.

The top 10 holders control 63% of the supply, with the largest holder owning 41%, worth approximately $3.3 billion.

Derivatives data shows $1.11 million in long positions versus $705,000 in short positions at key levels of $0.0000078-$0.00000844.

On Sunday, Shiba Inu posted a significant 13% price increase, continuing the upward trend seen throughout 2026.

The price movement is occurring amid a concentration of assets in wallets, with the 10 largest addresses controlling nearly 63% of the total supply.

Meanwhile, technical analysis suggests the asset may be entering a broader rally. Derivatives data further supports the bullish scenario, showing that traders are preparing for further gains.

Technical breakout confirms bullish divergence pattern

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

Such structures often indicate seller exhaustion rather than continued downward pressure. As the wedge narrowed, momentum indicators began to diverge from the price action.