After months of experiencing gradual progress, the Shiba Inu native token SHIB has begun driving the bull market wave and surging with new positive factors. Because of this, a crypto analyst has predicted new highs for the doggy-themed cryptocurrency, estimating the value of SHIB to succeed in $0.00001.
Analyst Foresees Bullish Trajectory For Shiba Inu
Crypto analyst and investor SHIB Knight took to X (previously Twitter) on Monday to discuss SHIB’s latest worth actions. Currently, the doggy-themed token has been witnessing significant price increases, pushing it nearer to the coveted $0.00001 worth mark.
In accordance with CoinMarketCap, SHIB has recorded about 1.32% in positive factors during the last seven days and is buying and selling at a worth of $0.000009 on the time of writing.
Martinez shared a chart illustrating SHIB/Tether’s worth actions. He disclosed that the price of SHIB was experiencing a technical breakout on a two-hour chart from the downtrend that has been plaguing the cryptocurrency market. This implies that the Shiba Inu token could also be on its strategy to a worth restoration after experiencing important declines regardless of its flourishing ecosystem and neighborhood.
Subsequently, SHIB Knight shared one other chart displaying SHIB’s worth motion with an arrow pointing towards a surge to $0.000014. The crypto analyst predicted that SHIB might pump at any time, suggesting that buyers ought to keep alert and preserve watch of the cryptocurrency’s current bullish outlook.
SHIB worth at $0.00000899 | Supply: SHIBUSD on Tradingview.com
Analyst Predicts SHIB To Surge To $0.01
Because the crypto market steadily exits bearish trends which were inflicting the declines of many altcoins, SHIB has positioned itself on the forefront of the potential market restoration, getting ready for the anticipated 2024 bull run.
Crypto analyst Ali Martinez disclosed in an X put up that SHIB is gearing up for a major upswing that might push it to unprecedented highs. Martinez shared a chart initially printed on TradingView, illustrating the value traits and actions of SHIB from November 2023 to February 2024.
The chart revealed crimson and inexperienced zones in Shiba Inu’s token worth pattern. Counting on his evaluation of those worth actions, Martinez predicted that the worth of SHIB might climb as excessive as $0.010 or probably surpass that worth mark to $0.011. The prevalence of this occasion might signify a possible breakthrough for the cryptocurrency as SHIB has solely been in a position to obtain an all-time excessive of $0.0009 since its inception.
Featured picture from Dall.E, chart from Tradingview.com
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