Shiba Inu Price Ready For 130% Surge With Bullish Patterns Marked By Higher Highs

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As a seasoned researcher with over two decades of experience in the financial markets, I have witnessed countless bull runs and bearish corrections. However, the potential rally for Shiba Inu, as predicted by several prominent crypto analysts, has caught my attention.

The cost of Shiba Inu is showing signs suggesting a bullish trend that might lead to a significant 130% increase in value. A cryptocurrency expert has pointed out a recurring pattern of increasing highs, strengthening his belief in an upcoming price spike for SHIB.

Shiba Inu Price Gears Up For 130% Rally

According to Klejdi Cuni’s analysis as a TradingView crypto expert, there appears to be a bullish forecast for the Shiba Inu price. His chart illustrates an increasing pattern known as an ascending oval trend, where Shiba Inu has been consistently hitting higher peaks on a daily basis.

For roughly a month now, the analyst has revealed that the Shiba Inu token tends to find significant backing at approximately $0.00002424. A recent revisit of this support level suggests an Accumulation Zone, where investors have been consistently purchasing to prevent any further price decrease.

Looking at the provided price graph, the analyst has marked multiple potential increase points as Shiba Inu maintains its uptrend. The steep incline on the chart suggests that the value of SHIB might surge significantly following the breach of significant resistance thresholds, potentially entering a powerful upward parabolic phase.

Cuni projects a steady but substantial price increase for Shiba Inu, projecting that the meme coin could surge 130% to reach an initial target of $0.00003232 in the near-term resistance. The analyst has also predicted that Shiba Inu could hit a second target at $0.00004167.

If Shiba Inu continues its upward trend and stays above 0.000041 dollars, Cuni anticipates a substantial jump towards the third predicted peak at approximately 0.00005675 dollars. This projected level represents the highest target on the price chart, with the TradingView analyst predicting an impressive rise potentially reaching 0.00007012 dollars.

Even if the Shiba Inu price manages to hit these optimistic predictions, it would still be quite a bit lower than its record peak of approximately $0.000086, which was set during the 2021 bull run when the popularity and value of meme coins skyrocketed rapidly.

Cuni clarified that Shiba Inu had met its initial goal. Yet surprisingly, unlike other meme coins in circulation, Shiba Inu’s price behavior hasn’t followed a pattern typical of meme coins.

Analyst Says SHIB ATH Incoming 

Right now, the cost of Shiba Inu is at $0.000028 following a 8% drop over the last seven days, based on data from CoinMarketCap. This meme token had been among the strongest performers in the current bull market, climbing above $0.00003 not long ago. Given its recent price trends suggesting a possible turnaround, a well-known crypto expert known as ‘The CryptoBull’ has forecasted that Shiba Inu might hit new record highs during this bull run.

In a recent post on X (previously known as Twitter), the analyst provided a graph showing the price fluctuations of Shiba Inu from May 2022 up until now. The analyst posits that if Shiba Inu manages to break through the level of $0.00003285, it could potentially spark a massive increase, reaching as high as $0.00008852, thereby setting a new all-time high (ATH).

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2024-12-14 19:34