Crypto Analyst Optimistic About A Shiba Inu Short-Term Surge To $0.000066
March 07 2024 - 1:00PM
NEWSBTC
Shiba Inu (SHIB) has displayed immense momentum lately standing out
as one of the best-performing meme coins in light of the general
optimism that took over the cryptocurrency market in the last week.
Shiba Inu To $0.000066 Could Be Possible In A Short Time With the
price of Shiba Inu rallying in the past few days, the crypto asset
has garnered significant attention from investors as several
experts predict a rise to new yearly highs. Related Reading: Shiba
Inu Lead Dev Co-Signs Prediction That Would Send SHIB To $100
Billion In the same vein, cryptocurrency analyst and investor Rekt
Capital has shared his optimistic prediction for Shiba Inu with the
crypto community on the social media platform X (formerly Twitter),
fueling hope of notable gains in the short term. Rekt Capital’s
analysis underlines the digital asset’s potential to soar higher to
a level not seen for more than 2 years. The crypto analyst pointed
out that SHIB arrived at a resistance he dubbed “Black Resistance,”
which it previously rejected. As a result, the meme coin must now
“maintain the blue level” indicated in his chart as fresh support
in order to create a “new Re-Accumulation Range at the highs
possibly.” Due to this, the expert expects Shiba Inu to rise to the
$0.000066 price level shortly. The post read: Shiba Inu Reached the
black resistance which SHIB rejected from. Now SHIB needs to hold
this blue level as new support to potentially develop a new
Re-Accumulation Range at the highs. Rekt Capital also highlighted
another of his earlier forecasts, in which he projected the coin to
reach the aforementioned price mark. At first, Rekt Capital noted
that the asset had reached the blue resistance point. Furthermore,
he asserted that SHIB has increased by over 300%, since the initial
post from November last year. In the post, the analyst claimed that
SHIB regained the Orange area’s top as a support. Consequently,
SHIB ought to be able to return to the pinnacle of its “black
market structure over time.” However, he presently anticipates
Shiba Inu to undergo a rally after it concludes its “Macro U-shaped
reversal.” SHIB Anticipated For A Potential Rebound Amid the
recent bearish sentiment around the market, Santiment – a crypto
analytics platform, has identified SHIB as one of the leading
assets that is poised for a potential recovery. Related Reading:
Shiba Inu Blasts Into Top 10 Crypto Following 175% Price Surge Data
from Santiment shows that SHIB and dogwifhat (WIF) are the major
coins expected by traders to undergo a rebound. This comes after
the wild day that saw Bitcoin reach a new peak before markets went
into a “reset mode.” Santiment has also underscored a “speculative
bullishness” for Solana (SOL) lately. This is a result of the
speculation surrounding Solana’s potential to reach the $1,000
threshold. SHIB at the time of writing was trading at $0.00003155,
indicating a drop of 13% in the past day. Meanwhile, its market cap
and trading volume are both down by 13% and 62% respectively.
Featured image from Shutterstock, chart from Tradingview.com
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