Analyst Predicts Shiba Inu May See 2,000% Surge Late in Cycle
Key Points on Shiba Inu (SHIB) Analysis:
- Technician Charting Guy describes SHIB as "weak and choppy" with potential breakout expected only by the end of the current crypto cycle.
- The weekly SHIB/USD chart shows the price at $0.000010205, just below the 0.236 Fibonacci retracement level ($0.000011043).
- Significant resistance levels identified at:
- 0.382: $0.000016434
- 0.5: $0.000022661
- 0.618: $0.000031247
- 0.786: $0.000049369
- Potential higher extension markers include:
- 1.272: $0.000185406
- 1.414: $0.000272917
- 1.618: $0.000475605
- Charting Guy ranks SHIB with other "Bad Looking Charts" alongside WIF, ETC, AVAX, and others, contrasting with "Good Looking Charts" like Bitcoin, Ether, XRP, Solana, and BNB.
- SHIB remains below key momentum gates, indicating weak performance until it surpasses early Fibonacci thresholds.
- A rise to $0.00022 could signify a 2,055.81% upside, aligning with late-cycle speculative moves.
- Current SHIB trading price: $0.00001046.
