After months of slow growth, the original Shiba Inu icon was released Gray He started riding the bull market wave and rising with new gains. As a result, one cryptocurrency analyst predicted new highs for the speculative cryptocurrency, estimating the price of SHIB to reach $0.00001.
The analyst expects an upward trajectory for the Shiba Inu
Cryptocurrency analyst and investor SHIB Knight took to X (formerly Twitter) on Monday Discusses the SHIB's recent price movements. Recently, the token has been seen being comically themed Significant price increasespushing it closer to the coveted price mark of $0.00001.
According to CoinMarketCap, SHIB has registered about 1.32% gains over the past seven days and is trading at $0.000009 at the time of writing.
Martinez shared a chart showing the price movements of SHIB/Tether. He revealed that SHIB price It was witnessing a technical breakout on the 2-hour chart of the downtrend that has been plaguing the cryptocurrency market. This suggests that Shiba Inu The token may be on its way to a price recovery after seeing significant declines despite its thriving ecosystem and community.
Next, SHIB Knight shared another chart showing SHIB's price movement with an arrow pointing upward to $0.000014. Cryptographic analyzer And he expected SHIB could pump at any time, suggesting that investors should stay alert and monitor the digital currency's current bullish outlook.
SHIB price at $0.00000899 | Source: SHIBUSD on Tradingview.com
The analyst expects SHIB to rise to $0.01
As the cryptocurrency market gradually exits Downward trends Which caused many altcoins to decline, SHIB has positioned itself at the forefront of a potential market recovery, preparing for the expected forecast. Bull race 2024.
Cryptocurrency analyst Ali Martinez a statement In Post X, SHIB is poised for a major rally that could push it to unprecedented levels. Martinez shared a chart, initially posted on TradingView, showing price trends and SHIB movements from November 2023 to February 2024.
The chart revealed red and green areas in the Shiba Inu token price trend. Based on his analysis of these price movements, Martinez predicts that the value of SHIB could rise to $0.010 or perhaps exceed this price mark to $0.011. The occurrence of this event can indicate a possibility Cryptocurrency hack Because SHIB has only managed to achieve an all-time high of $0.0009 since its inception.
Featured image from Dall.E, chart from Tradingview.com
