As a seasoned crypto investor with a knack for spotting trends and interpreting market signals, I find myself increasingly intrigued by the resilience of Shiba Inu (SHIB). Having witnessed its meteoric rise and subsequent crash, I’ve learned to appreciate this meme coin’s ability to bounce back from adversity.
After a significant drop that caused Bitcoin‘s value to fall by more than 10%, landing around $93,000, the cryptocurrency market has shown signs of revival. This decrease led to increased selling among alternative coins such as Shiba Inu (SHIB), which returned to its crucial support level close to $0.0000185.
Regardless of widespread market declines, Shiba Inu showed tenacity, surging by 28% from its recent low to trade beyond $0.0000238. This bounce-back has ignited hope among analysts and investors, with numerous experts anticipating a significant surge in the token’s value in the upcoming weeks.
Analysts Predict Shiba Inu Price Could Surge to $0.00005816
Based on a recent market assessment, it’s predicted that the price of Shiba Inu could see a significant increase due to its impressive recovery. The analyst known as “Dollars Maker” has offered some intriguing ideas suggesting a potential 235% jump, implying that SHIB might reach $0.00005816 – a level surpassing the previous peak in March 2024 of $0.00004566.
The analyst outlined a step-by-step target path for the token. Initially, Shiba Inu could achieve a 92% increase to $0.00003339. The next milestone involves a 163% rise to $0.00004566 before ultimately reaching $0.00005816. This bullish outlook reflects the token’s ability to recover quickly from significant price dips, supported by strong trading momentum.
According to recent analysis and expert opinions, it’s expected that the price of Shiba Inu (SHIB) could reach approximately $0.00009 by 2025. This prediction is based on significant advancements and widespread positive sentiment within the crypto market. Despite a recent selloff from large investors (whales) causing a 22% drop over the past week, analysts remain hopeful about SHIB’s recovery from its current position. The optimism stems from the community’s faith in upcoming Shibarium (SHIFU) and TREAT tokens, as well as robust technical and on-chain data that suggest a possible price spike could occur.
Prolonged Accumulation Near Support Signals Meme Coin Rally
An essential element fueling optimism is the extended buildup noticed around the $0.00002424 support point. Market experts posit that this consolidation period offers the required energy for Shiba Inu’s price to surpass significant resistance levels.
Indeed, analyst Klejdi Cuni has spotted a bullish trend emerging on the daily chart of Shiba Inu (SHIB), suggesting potential price increase. Despite a relatively weak performance against other popular meme coins lately, SHIB has demonstrated an upward trend since its reversal in September, characterized by a series of higher peaks.
In other words, Cuni highlighted that the significant backing at 0.00002424, sustained for more than four weeks, suggests a large-scale gathering of resources. This could signal a possible surge in the upcoming months.
According to Cuni’s examination, significant price milestones could be reached if SHIB experiences a breakout. The first notable level is approximately $0.00003232, representing a potential 25.6% increase from its current value. Moreover, he pointed out the $0.00004167 point, which was a critical resistance that SHIB lost 10 months ago. This could potentially signal a rise of around 61.6%.
According to Pouyan TradeFX’s technical analysis, there are signs pointing towards an upcoming surge in meme coins, with Shiba Inu being a prime candidate. The analyst has noticed a long-term trendline that has curbed Shiba Inu’s price increase so far. If the token manages to break through this resistance barrier, it could lead to gains surpassing 100%, possibly driving the price up to approximately $0.000074.
Currently, Shiba Inu (SHIB) is being exchanged for approximately 0.00002203 dollars per token. Over the last day, this has resulted in a 4.10% surge. The market value of this token currently stands at an impressive $12.98 billion, with a 24-hour trading volume of around $1.09 billion.
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2024-12-21 22:06