Shiba Inu Price Ready For 130% Surge With Bullish Patterns Marked By Higher Highs
14 Dezembro 2024 - 1:30PM
NEWSBTC
The Shiba Inu price is flashing bullish signals that could pave the
way for an impressive 130% rally to new levels. A crypto analyst
has highlighted a pattern of higher highs, solidifying his
optimistic price projection of an imminent price surge for
SHIB. Shiba Inu Price Gears Up For 130% Rally Klejdi Cuni, a
TradingView crypto analyst, has released a detailed chart analysis
displaying a bullish set-up for the Shiba Inu price. The chart
highlights an ascending oval trend, with Shiba Inu consistently
making higher highs on the daily. Related Reading: Bitcoin
Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000
As Early As Next Week The analyst disclosed that Shiba Inu has
repeatedly faced strong support around the $0.00002424 level for
about a month. This retest of the support level signals an
Accumulation zone, where buyers consistently step in to avoid
further price decline. Sharing a price chart, the analyst has set
several upward targets as Shiba Inu continues its bullish
trajectory. The sharp upward curve in the chart also indicates that
the SHIB price could enter a strong parabolic move upwards after
breaking key resistance levels. 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 can
maintain its bullish momentum and stay above $0.000041, Cuni
believes a significant breakout level to the third target at
$0.00005675. Finally, representing the highest target on the price
chart, the TradingView analyst forecasts a massive surge to
$0.00007012. Although reaching these bullish price targets
would mark a significant milestone for the Shiba Inu price, it
would still fall well below the meme coin’s all-time high of
$0.000086. This all-time high was achieved during the bull run in
2021 when the demand and price of meme coins surged dramatically.
Related Reading: XRP Price Breakout Above $10: Analyst Tells
Community To Pay Attention To This Fractal Cuni explained that
Shiba Inu had already achieved his first projected target. However,
despite being a meme coin, Shiba Inu has not displayed a price
action similar to that of other meme coins in the market. Analyst
Says SHIB ATH Incoming The Shiba Inu price is currently
trading at $0.000028 after experiencing an 8% decline over the past
week, according to CoinMarketCap. The meme coin had been one of the
top gainers of this bull market, having surged above $0.00003
recently. With its current price action signaling a potential
reversal, a prominent crypto analyst, identified as ‘The
CryptoBull,’ has predicted that Shiba Inu could reach new all-time
highs this bull cycle. Related Reading: XRP Price Breakout Above
$10: Analyst Tells Community To Pay Attention To This Fractal The
analyst shared a chart in an X (formerly Twitter) post displaying
Shiba Inu’s price movements from May 2022 to the present. The
analyst suggests that if Shiba Inu crosses $0.00003285, the meme
coin could see an explosive surge to $0.00008852, making a new
ATH. Featured image created with Dall.E, chart from
Tradingview.com
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