As a seasoned crypto investor with over a decade of experience in this dynamic market, I must admit that I have witnessed my fair share of meme coins rising and falling like the proverbial yoyo. However, the recent surge of Shiba Inu (SHIB) has caught my attention due to its striking similarities with Dogecoin’s historic patterns, as highlighted by analyst Ali Martinez.
Right now, the meme coin based on dogs called Shiba Inu is experiencing a surge, causing it to gain noticeable value due to the renewed energy in the overall crypto market. This recent upward trend of Shiba Inu has sparked considerable excitement among its supporters about the potential for a substantial increase in the coming weeks.
A Bull Run Likely For Shiba Inu Shortly?
Based on his recent analysis of Shiba Inu’s current price trends, financial analyst and investor Javon Marks predicts a significant price increase for SHIB in the near future, as he has observed several robust positive indicators suggesting an upward movement for this popular meme token.
Javon Marks expects a potential SHIB surge based on robust technical and graph signals, which might serve as triggers for further price increases. His forecast aligns with the broader trend suggesting Shiba Inu approaching its current record high of $0.000086 during this market cycle.
After multiple days of building a bullish trend predicted to boost the price of meme coins, the market analyst asserts that Shiba Inu (SHIB) has indeed validated this bullish trend. Currently, the prices are showing strong signs, suggesting that SHIB is not only participating in the ongoing bull run but also enhancing its presence even further.
Based on the recent significant trends, Javon Marks is optimistic that Shiba Inu (SHIB) will reach approximately $0.000081. This would require a further increase of about 2.79 times or roughly 179% from its current price for SHIB to achieve this level.
Enthusiasm for Shiba Inu (SHIB) within the cryptocurrency market is increasing once more. Renowned crypto expert and investor, Ali Martinez, has also made a prediction of an upsurge for this meme coin, which is sparking renewed curiosity among both individual and institutional investors in Shiba Inu.
As a researcher, I’ve highlighted a potential short-term surge for SHIB towards the price point of $0.000037, based on my observation of a bull flag formation within the 1-hour timeframe. While a breakout from this bull flag pattern could initiate a move to this predicted level, it’s crucial to note that the meme coin needs to surpass the resistance at $0.000025 for this upward trend to be sustained.
SHIB Demonstrating Similar Price Performance With Dogecoin
It is worth noting the expert has also pointed out similarities between Shiba Inu’s price performance and that of Dogecoin, the largest meme coin. His charts show aligning trends with historic patterns observed during Dogecoin’s rallies.
If his observations prove accurate, Martinez thinks that the next significant level to keep an eye on could be around 0.00049, potentially setting a new record high for SHIB within this current market trend.
Currently, Shiba Inu’s price stands at $0.00002844. It dropped significantly from reaching $0.000033 on Sunday, which represents almost a 5% decrease over the past day. This decline occurred despite growing enthusiasm among investors.
Despite a 5% drop today, Shiba Inu (SHIB) has seen a rise of over 7% and 61% in the last week and month respectively. The dip in prices hasn’t slowed down SHIB’s trading action as its daily volume has spiked by approximately 37%.
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2024-12-02 18:11