NewsBTC 2024-07-18 03:30:32

Crypto Analyst Predicts 450% Move For Shiba Inu To Reach New All-Time High

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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