Crypto Analyst Predicts 450% Move For Shiba Inu To Reach New All-Time High
July 17 2024 - 11:30PM
NEWSBTC
A crypto analyst has shared his optimistic projections for the
popular dog-themed meme coin Shiba Inu (SHIB). According to the
analyst, Shiba Inu is set for a massive 450% rally to reach new
All-Time Highs (ATH). Shiba Inu Aims For 450% Surge To New
Highs In a recent X (formerly Twitter) post, crypto analyst, Javon
Marks expressed bullish optimism about Shiba Inu’s future price
outlook. The analyst has forecasted that Shiba Inu is preparing for
a 450% surge to new all-time highs this bullish season.
Related Reading: Bullish Return: Institutional Investors Pour $1.44
Billion Into Crypto In One Week Highlighting SHIB’s past
performances, Marks revealed that Shiba Inu has shown incredible
progress after breaking out of similar patterns observed in the
previous bull run. At the time, the popular meme coin surged as
high as 400%, moving from approximately $0.000009079 to
$0.00004559. The crypto analyst predicts that Shiba Inu could
witness another substantial increase of around 351%, moving from
this bullish area to break out of a new price target of $0.0000886.
He indicated that this surge to $0.0000886 would represent a new
all-time high for SHIB, surpassing its current ATH of $0.00008616,
recorded in October 2021. Sharing a SHIB/USDT price
chart depicting Shiba Inu’s historical price movements from 2021 to
2026, Marks suggested that the popular meme coin mimicking a
pattern from the 2021 bull run, potentially signaling a massive
increase of 930.20% that could propel the price of SHIB to
$0.00008063. In a previous post, Marks also maintained his bullish
optimism for Shiba Inu. He revealed that despite its sluggish
performance recently, Shiba Inu’s 3D prices are holding on to this
key pattern that could trigger another massive rally, potentially
propelling the cryptocurrency up by 855% to new all-time
highs. Looking ahead, Marks suggests that Shiba Inu’s bullish
projection is further confirmed by the “Hidden Bullish Divergence”
between the meme coin’s price and the Relative Strength Index
(RSI). The analyst asserts that this divergence validates the
underlying strength behind SHIB’s price, indicating the
continuation of its already impressive uptrend. SHIB Price
Fundamentals Remain Strong In the past few weeks, Shiba Inu has
witnessed a significant change in its price performance, shifting
towards a more bullish position and indicating strong fundamentals.
In June, Shiba Inu and various other meme coins witnessed an
unexpected price crash, experiencing double-digit declines as the
demand for meme coins in the market began to wane. Related
Reading: Crypto Analyst Says Telegram-Based Notcoin Is Ready To
Fly, Here’s How High However, now, Shiba Inu is in an uptrend,
recording a significant increase of approximately 16.46% in just
one week. As of writing, the cryptocurrency’s price is trading at
$0.0001944, steadily increasing to reach the $0.00002 price
mark. In the last 24 hours, Shiba Inu has continued its
upward trend, witnessing a 3.61% increase in its value, according
to CoinMarketCap. A crypto analyst identified as ‘SHIB Knight’ on X
has also highlighted Shiba Inu’s recent positive performance and
price reversal, predicting that the cryptocurrency could pump to
$0.00005 after a breakout confirmation. Featured image
created with Dall.E, chart from Tradingview.com
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