Hold onto your leashes, folks! The Shiba Inu price might just be gearing up for a whopping 450% surge, according to the long-term breakout holding strong. Yes, you read that right – a 450% jump!
Shiba Inu Price Could Reach for the Stars If Long-term Trend Continues
Pseudonymous analyst Javon Marks has spotted a long-term trend for SHIB that’s got us all wagging our tails. Seems like SHIB is trading above its breakout level from late 2022, which is a sure-pointer for a massive price rally in the future.
Now, brace yourselves for this one: the projected Shiba Inu price is a mind-boggling 450% jump from its current levels of $0.00001436. That’s right, we’re talking about the top meme coin reaching for the stars!
“Shiba Inu continues to hold its breakout which took place in late 2022/early 2023 and prices are still majorly positive since,” said Marks. “With this price breakout holding, the target for SHIB continues to be at the $0.000081 point which is currently over 450% away.”
Marks points to the SHIB’s onchain data, highlighting “textbook bull signals” in long-term charts as proof for the projected price point. He adds that the slow pace of the run from late 2022 serves as confirmation for an eventual bullish run.
“This slower action can be aiding the longevity and scale of this run, meaning that this target level, through this sideways action, is looking more and more likely to be broken above,” said Marks.
Shiba Inu Continues To Trade Sideways
Shiba Inu price currently hovers at $0.00001446, rising by 1% over 24 hours. While its 7-day chart indicates a slight dip, the top memecoin continues to tread water as it eyes a breakout.
At the moment, Shiba Inu’s market cap stands at $8.5 billion with daily trading volumes of $273 million.
In the short term, traders are watching with bated breath for a looming death cross that could trigger a slump. Optimistic traders say the death cross may trigger a 20% rally for Shiba Inu price, citing similar pattern in 2023.
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2025-02-27 01:59