Shiba Inu Price Primed for 105% Surge as Bullish Signal Flashes Green

Shiba Inu’s price action just triggered a technical indicator that historically precedes massive rallies—and this one’s eyeing a double-digit rebound.

The Signal That Screams ‘Buy’

A bullish divergence on the weekly chart suggests SHIB’s recent consolidation was just a pitstop, not a breakdown. Traders are now betting on a repeat of Q1 2024’s parabolic moves.

Memecoins Defy Gravity (Again)

While traditional finance scrambles to explain the ‘irrational’ rally, SHIB’s 24-hour volume spike tells the real story: liquidity floods where the hype lives. Remember: in crypto, fundamentals are optional—until they’re not.

The Fine Print

Targets hinge on Bitcoin holding $60K. If macro tides turn, even the mightiest memecoin can’t fight the current. But for now? The dogs are barking—and Wall Street’s still stuck explaining why a Shiba logo moves markets.

Chart Analysis Fuels Shiba Inu Price Optimism

The basis for the crypto analyst’s notably optimistic forecast lies in his interpretation of Shiba Inu’s price chart. He shared a chart that, in his view, outlines a potential path upward. 

The main portion of this chart depicts Shiba Inu’s price using candlestick formations, illustrating a period of decline – a trend common across many digital assets recently. The crypto analyst emphasized this with a downward-sloping red trendline drawn beneath a series of diminishing price peaks.

The analysis becomes more pointed when considering a secondary graph displayed below the price chart. This graph tracks a momentum indicator, likely the Relative Strength Index (RSI), a tool traders use to assess whether an asset might be overbought or oversold. On this indicator, Marks highlighted an upward-sloping red trendline, connecting a pattern of increasingly higher lows.

This particular condition – where an asset’s price trends downwards or records lower lows while a corresponding momentum indicator forms higher lows – is known in technical analysis as a bullish divergence. Analysts often interpret such divergences as a sign that downward selling pressure could be waning, potentially heralding an upward price reversal.

It is this divergence that underpins the crypto analyst’s specific projection. He noted it was “hinting at an at-least 105% additional recovery.” Such a gain, were it to materialize, WOULD represent a substantial shift in the token’s recent performance.

He further identified a “breakout target that stands at $0.000081.” This price level is considerably higher than Shiba Inu’s recent trading range. 

Should SHIB reach this $0.000081 mark, Marks suggested, its price could effectively “quadruple.” Technical analysts frequently derive such price targets from historical price formations, including previous peaks and troughs, or by measuring the extent of prior significant price movements. 

The chart shared by Marks included a hand-drawn curved arrow pointing steeply upwards, visually reinforcing his anticipated trajectory.

A Volatile Asset in a Speculative Market

Despite the technical arguments, Shiba Inu remains an asset class known for its pronounced volatility. Its price history is characterized by dramatic ascents and equally sharp declines, often influenced by broader sentiment within the cryptocurrency market and trends on social media platforms.

While Marks presents a detailed technical case for a significant appreciation in the shiba inu price, forecasts within the cryptocurrency sector are inherently speculative. 

The recent nearly 30% gain is a factual data point, but whether it signals the start of a more sustained rally, as suggested by this analysis, remains to be seen. Investors generally approach such predictions with considerable caution.

Read More

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.