Shiba Inu To Double? Analyst Predicts 200% Price Hike – Details
21 Ottobre 2024 - 2:00AM
NEWSBTC
Although flying under the radar concerning price movements during
Bitcoin’s recent bull run, the dog-themed cryptocurrency Shiba Inu
(SHIB) was able to appreciate 8.18% in the last week while Bitcoin
reclaimed the $69,000 mark on Friday. Analysts have already
predicted further upward potential for this meme coin. Related
Reading: Could Bitcoin Break $100,000? Analysts Predict 6-Figure
Milestone Analyst Predicts 200% Surge For Shiba Inu Crypto analyst
MMBTtrader seems rather positive about the future prospects of
Shiba Inu as he expects a 200% increase to $0.000038. As he says,
the SHIB had already registered a 75% gain from the $0.000011
support level within the price chart. The altcoin had indeed
rallied from the demand zone in the early periods of August and
September, accelerated its pace, and settled at $0.000019. For
SHIB, MMBTtrader predicts that it will not just consolidate to
$0.00003852. As a matter of fact, he expects the higher highs and
higher lows pattern where the initial push to May’s highs at
$0.000028 will then be corrected to September’s highs at $0.000021.
In case those levels hold, the meme coin could pull to the targeted
$0.00003852. Conflicting Views: Bearish Outlook From SwallowPremium
MMBTtrader still remains bullish about Shiba Inu, but
SwallowPremium, on the other hand, is a little more conservative.
He says that the cryptocurrency would continue to go up until it
hits $0.0000216, and then correct 35% down to $0.000014075. His
analysis reads that the downtrend would be triggered by a
correction down to $0.0000195, which may be a good time to open a
short position. However, Premium also cautions that if SHIB breaks
over the price of $0.0000216, a bearish outlook could be
invalidated, sending the price much higher than what it has already
recorded. Related Reading: TRON Market Cap Hits Nearly $14 Billion
On Strong Revenue Growth Shiba Inu’s Price Path Forward Shiba Inu
trades at $0.00001925, close to 11% below the level of $0.0000216
resistance. Various predictions made by market experts convey a
divergence of sentiment on SHIB trajectory. MMBTtrader projection
for a possible 100% increase is based on an underlying conviction
for perpetuation of an upward trend. SwallowPremium sounds a note
of caution with a ‘critic’ view of correcting it. Shiba Inu’s
future price action depends on breaking key resistance levels and
maintaining momentum. As SHIB nears crucial price points, traders
will watch for breakout signs. The coming weeks will be critical in
determining whether it can rise further or face another rejection.
Featured image from Pexels, chart from TradingView
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