Shiba Inu Elliot Wave Count Falls Into Place, Here’s Where The Bullish Wave 4 Says The Price Is Headed
31 Maggio 2024 - 12:00AM
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Crypto analyst Capt Toblerone recently provided insights into the
Shiba Inu (SHIB) future trajectory using the Elliot Wave Theory.
This suggested that the meme coin’s recent price correction was
simply part of a bigger picture, with the analyst predicting the
meme coin will hit a new all-time high (ATH) on its next leg
up. SHIB’s Price Is Headed Towards $0.00022 Capt Toblerone
shared a Shiba Inu chart on his X (formerly Twitter) platform,
which showed that Shiba Inu will rise to as high as $0.00022000
when Wave 3 of the five-way sequence takes place. The chart shows
that Wave 2 of the sequence was currently taking place, with SHIB
witnessing a corrective move. Related Reading: Crypto Expert
Says Market Has Begun A Macro Bullish Expansion – What This Means
For Bitcoin And Altcoin Prices A rise to $0.00022000 would create a
new all-time high (ATH) for the second-largest meme coin by market
cap, with its current ATH at $0.00008845. Capt Toblerone’s analysis
also showed that Shiba Inu could hit this new ATH by September this
year. Interstingly, Shiba Inu’s price isn’t expected to peak there,
as the chart also showed that the meme coin could hit another ATH
when Wave 5, which is also a bullish move, takes place later
on. In the meantime, SHIB is facing corrective Wave 2, with
the meme coin declining by over 7% in the last 24 hours. This
follows its recent impressive price rally when it gained over 15%
and even flipped Cardano to become the tenth-largest crypto token
by market cap. Although Shiba Inu has once again dropped out
of the top 10 rankings with its recent price decline, the meme coin
could easily break into it again if it eventually rises to
$0.00022, as Capt Toblerone predicts. Shiba Inu undoubtedly has the
bullish momentum to enjoy such price gain since this bull run is
expected to be a meme supercycle. Bitcoin Analyst Is Also
Bullish On Shiba Inu Crypto analyst and early Bitcoin investor
Jeremie Davinci recently reaffirmed his bullish sentiment toward
Shiba Inu. He mentioned in an X post that the meme coin will break
out and rise to as high as $0.00006000 when this downward trend is
over. He further revealed that he will be looking to accumulate
more SHIBas he sees an opportunity to make money. Related
Reading: Solana Remains Institutional Investors’ Favorite, YTD
Flows Ramp Up To $29 Milion Crypto analyst Oscar Ramos also
recently mentioned that SHIB is set to run to its current ATH and
“beyond.” He added that the meme coin is ready to shed another zero
and rise to $0.0001. The crypto analyst had previously highlighted
this price level as his target for Shiba Inu in this bull
run. At the time of writing, Shiba Inu is trading at around
$0.00002604, down in the last 24 hours, according to data from
CoinMarketCap. Featured image created with Dall.E, chart from
Tradingview.com
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