Shiba Inu Price Set for 130% Surge According to Analyst
The Shiba Inu price is showing bullish signals that may lead to a potential 130% rally. A crypto analyst has identified a pattern of higher highs, supporting an optimistic forecast for SHIB's price surge.
Shiba Inu Price Gears Up For 130% Rally
Klejdi Cuni, a TradingView analyst, has shared a chart analysis indicating a bullish setup for the Shiba Inu price. The chart reveals an ascending trend, with Shiba Inu consistently reaching higher daily highs.
Cuni noted that Shiba Inu has maintained strong support around the $0.00002424 level for about a month. This retest indicates an accumulation zone where buyers are preventing further declines.
The analyst outlined several upward targets as Shiba Inu continues its bullish path. The sharp upward curve on the chart suggests that SHIB could enter a strong parabolic move after breaking key resistance levels.
Cuni forecasts a steady price increase for Shiba Inu, projecting a rise of 130% to an initial target of $0.00003232. A second target is set at $0.00004167. If SHIB maintains momentum above $0.000041, Cuni anticipates a breakout to a third target of $0.00005675, and potentially to $0.00007012 as the highest target.
Achieving these bullish targets would mark significant progress for Shiba Inu but would still be below its all-time high of $0.000086 reached during the 2021 bull run.
Cuni highlighted that Shiba Inu has already met his first projected target, noting its unique price action compared to other meme coins.
Analyst Says SHIB ATH Incoming
The current Shiba Inu price is $0.000028, reflecting an 8% decline over the past week, according to CoinMarketCap. Despite this, the coin previously surged above $0.00003. Analyst ‘The CryptoBull’ predicts that Shiba Inu may reach new all-time highs in this bull cycle.
The analyst shared a chart depicting Shiba Inu’s price movements from May 2022 to the present. If Shiba Inu surpasses $0.00003285, it could experience an explosive rise towards $0.00008852, establishing a new all-time high.
