As a seasoned researcher with over two decades of experience in the financial markets, I have seen my fair share of market predictions and analyses. However, Cantonese Cat’s latest video analysis on Shiba Inu has certainly piqued my interest. The use of the L3 Banker Fund Flow Trend Oscillator, a relatively lesser-known indicator, to predict a potential 2,430% increase in SHIB‘s price is intriguing, to say the least.
The price of Shiba Inu might be currently declining, but an analyst says the meme coin is gearing up for a bullish run as it is currently flashing a buy signal. According to Cantonese Cat, SHIB is now flashing a strong buy signal based on the L3 Banker Fund Flow Trend Oscillator, a relatively lesser-known indicator.
In the YouTube video, Cantonese Cat provided an in-depth analysis of SHIB‘s recent price fluctuations along with this specific oscillator, indicating that it could potentially surge at least five times to reach its all-time high, and even increase as much as 2430% to a potential target of $0.00047.
Shiba Inu Flashes Buy Signal
In his recent video analysis, Cantonese Cat provides an intriguing perspective on Shiba Inu’s price fluctuations in correlation with other popular altcoins. He discusses the current SHIB market trend in relation to the broader altcoin sector. Remarkably, according to his analysis using the L3 Banker Fund Flow Trend Oscillator, Shiba Inu is among ten cryptocurrencies, including Optimism, Avalanche, Cardano, Chainlink, Boba Network, COTI, Amp, Cartesi, and Injective, that are currently showing signs of a potential buy opportunity.
The L3 Banker Fund Flow Trend Oscillator is a technical indicator used to analyze the flow of capital in and out of cryptocurrencies among large market participants. A detailed analysis of SHIB’s price action with this indicator shows that this buy signal is extremely rare. The last time it flashed a buy signal for SHIB was in July 2023.
Back then, Shiba Inu (SHIB) was trading at a price lower than eight one-hundredths of a cent. However, an encouraging buy signal surfaced during that period. Remarkably, despite this signal, SHIB’s price remained steady for another six months before witnessing a robust surge in February 2024, coinciding with the broader crypto market upswing.
SHIB Price Targets To Expect
Although the buy signal is derived from the banker fund oscillator, the analyst uses Fibonacci levels to predict potential targets when the breakout eventually occurs. The first target is the 1 Fibonacci extension level, which aligns with SHIB’s current all-time high of $0.0000884. He also noted an ultimate “crazy target” for those anticipating a bigger surge. This ultimate target is at the 1.618 Fibonacci extension level, which aligns with $0.00047.
To hit that price point, Shiba Inu (SHIB) must overcome several resistance barriers, some before and others after exceeding its previous all-time high. This “extreme goal” would signify an increase of around 2430%, which translates to about a 30-fold jump from the current price range. The Cantonese Cat proposes that this goal might be possible by August or September 2025, though he acknowledges it’s quite ambitious. Instead, he suggests a more attainable goal is a 10x rise from the current Shiba Inu price level.
At the time of writing, SHIB is trading at $0.00001733 and is down by 6% in 24 hours.
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2024-10-09 00:40