Crypto Analyst Predicts Major Price Crash For Shiba Inu, But It’s Not All Bad News

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As a seasoned researcher with over two decades of experience in the financial markets, I have seen my fair share of market fluctuations and price corrections. However, when it comes to the crypto space, I must admit that it continues to surprise me with its volatility and unpredictability.

According to crypto expert MadWhale, it’s possible that the value of Shiba Inu may experience a substantial decrease in the near future. However, this predicted drop should be seen as a normal correction, which might actually create an opportunity for Shiba Inu to hit fresh record prices later on.

Shiba Inu To Suffer A Major Price Crash

In a TradingView post, MadWhale forecasted a possible significant drop in Shiba Inu’s price in the near future. Based on the analyst’s analysis, SHIB might fall even lower to the next significant Fibonacci support point. The chart accompanying the post indicated that this Fib support level is slightly above the psychological price mark of 0.000020 cents.

Even though there’s a chance for a price drop in Shiba Inu, the analyst remains optimistic about its future value. MadWhale predicts a rebound after any potential downturn, which could result in price restoration and further growth. The graph suggests that the Shiba Inu price might surge to approximately $0.00003200 during the initial phase of this predicted recovery.

MadWhale shared their reasons for being optimistic about Shiba Inu’s future path. According to them, a substantial increase in trading activity has occurred within the SHIB market. Additionally, they pointed out that the meme coin is supported by one of the largest media platforms and communities in the global cryptocurrency scene, which boosts its impact and market presence.

It appears that a potential adjustment in Shiba Inu’s price might occur as well, given that Bitcoin could experience a correction after its steep surge beyond $90,000. The relationship between the prices of Shiba Inu and Bitcoin, as indicated by IntoTheBlock data, is quite strong at 0.91, suggesting they tend to move in a similar direction.

Furthermore, it’s important to note that Shiba Inu’s recent surge in value can be attributed to the significant rise Dogecoin has experienced. Since their prices tend to move together, if crypto analysts like Kevin Capital forecast a decline in DOGE‘s price, SHIB may experience a similar trend.

SHIB Could End The Year At $0.0000444

In a recent analysis, crypto expert Investing Haven anticipates that the price of Shiba Inu could reach approximately $0.0000444 by the end of this year. This projected price is based on the 25% Fibonacci retracement level. Moreover, Investing Haven pointed out that the previously forecasted drop to $0.0000144 in October was met with buyers entering the market at around $0.0000158, which strengthens a positive investment setup.

Meanwhile, Investing Haven predicts a very optimistic outlook for Shiba Inu in 2025. Their analysis suggests that SHIB might reach $0.00007436 by next year, although this is below its current record high (peak). Yet, crypto analyst Javon Marks anticipates that the price will not only reach but surpass its all-time high.

Currently, Shiba Inu is being exchanged for approximately 0.00002642 USD, marking an increase of more than 11% within the past day, as per information gathered from CoinMarketCap.

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2024-11-14 22:34