Analyst Predicts Shiba Inu Price Could Surge by 306%
Experts predict a significant price increase for Shiba Inu (SHIB) due to positive trends in the cryptocurrency market following Donald Trump's recent election victory. Analysts forecast a potential 306% rise, targeting a price of $0.00081.
Shiba Inu: Explosive Growth
A market analyst indicated that Shiba Inu's price could reach $0.00081, citing overall bullish sentiment in the cryptocurrency sector spurred by the US elections. Analyst Javon Marks highlighted a confirmed Hidden Bull Divergence pattern as a bullish signal preceding a potential price rally.
Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target!
This target’s currently over 306% away and a push to… https://t.co/0ySjEfPQgF pic.twitter.com/DwklAFs8zj
— JAVON
MARKS (@JavonTM1) November 8, 2024
“Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target,” Marks stated.
The formation of a Hidden Bull Divergence is considered a bullish indicator preceding price rallies. Analysts noted that Shiba Inu has exited its consolidation phase, enhancing the positive outlook for the coin.
Shiba Inu-Bitcoin Relationship
The price movements of Shiba Inu are correlated with Bitcoin's fluctuations. Analysts monitor this relationship closely, as movements in Bitcoin often influence Shiba Inu's price. Historical data shows that Shiba Inu tends to follow Bitcoin's trends, making it susceptible to Bitcoin's price changes.
Analysts assert that a significant increase in Bitcoin's price could lead to substantial growth for Shiba Inu. Current predictions suggest Bitcoin may experience a notable price surge, which could positively affect SHIB's trajectory.
We aren’t even close to my crypto total MC prediction. Will it get there? Seems possible and likely imo.
$10T+ $SHIB .0002 likely$BONE $50-$100$LEASH $15k-$20k $ETH $17k+$BTC $250k best case scenario$CRO $2.70$DOGE $2.70-$5
There may be a lot of “projects” out there…
— HorBull
(@HorBull) November 6, 2024
$118 Billion Market Cap Seen
Analysts projected that Shiba Inu's market capitalization could rise significantly, with a potential increase of 950% if the global cryptocurrency market cap reaches $10 trillion. This would position SHIB at approximately $0.0002, elevating its market cap to $118 billion.
The current global cryptocurrency market capitalization stands at $2.61 trillion, while Shiba Inu's market cap is about $11.21 billion.
Featured image from Chewy, chart from TradingView