Shiba Inu Price Could See Late Surge, Analyst Predicts
Shiba Inu (SHIB) Market Overview:
- SHIB is currently trading in a narrow range, with a 45% decline year-to-date and a 15% drop over the last 30 days.
- The market sentiment is leaning towards fear, with the Fear & Greed Index at 30.
Analyst Insights
- MMB Trader describes SHIB as a "dead and sleeping coin" that may surprise late in the cycle.
- A critical level to monitor is $0.00001740, linked to a trend from March 2024's peak of $0.00004567.
- If SHIB breaks above this trendline and holds on retest, it could shift towards a bullish stance.
Potential Breakout Targets
- First target: $0.00003364, representing a 235% increase from the current price.
- Second target: $0.000055480, a potential 450% growth.
- Third target: $0.00007730, implying a 670% gain.
- Some analysts suggest a move to $0.000081 if a sustained breakout occurs.
Market Signals and Risks
- CoinCodex predicts SHIB reaching $0.00001183 by November 23, 2025, a 16% rise.
- Technical indicators show bearish sentiment; SHIB saw 53% green days in the past month with 8.91% volatility.
- Trading remains risky; millions of holders are exposed while awaiting a clear catalyst.
- A failed retest of the trendline could see prices fall back to previous ranges.
Conclusion: A potential rebound for Shiba Inu is possible but uncertain. The trendline at $0.00001740 is crucial, and a decisive move above it could alter the market outlook.