Shiba Inu (SHIB) Prediction
The dog-themed cryptocurrency, Shiba Inu (SHIB), has captured the attention of market analysts as it recently experienced an 8.18% rise during Bitcoin’s bullish run. As Bitcoin reclaimed the $69,000 mark, SHIB quietly followed suit, and analysts now predict a massive potential surge for the meme coin.
Analyst Predicts a 200% Price Hike for SHIB
Crypto analyst MMBTtrader has expressed a highly optimistic outlook for Shiba Inu, predicting a 200% price increase. According to his analysis, SHIB has already shown strength, gaining 75% from its $0.000011 support level and rallying to its current price of $0.00001925. MMBTtrader expects this upward momentum to continue, potentially pushing SHIB to $0.00003852.
He forecasts a “higher highs and higher lows” pattern, projecting SHIB to first reach May’s highs of $0.000028, before a correction to September’s $0.000021. If SHIB can maintain support at these levels, it could break out toward his predicted target.
Bearish Outlook: A More Conservative View
Not all analysts share the same level of optimism. SwallowPremium, another crypto analyst, offers a more cautious view, predicting that SHIB could rise to $0.0000216 but then face a 35% correction back to $0.000014075. He warns that this correction might be triggered by a retracement to $0.0000195, suggesting it could be an opportune moment for traders to open short positions.
Currently trading at $0.00001925, Shiba Inu is hovering just below its key resistance level of $0.0000216. The market is divided between bullish and bearish sentiments, with MMBTtrader confident in a further surge and SwallowPremium urging caution.
For Shiba Inu to maintain its momentum, it will need to break through crucial resistance points in the coming weeks. Whether it experiences a breakout or faces a pullback remains to be seen, making the next few weeks critical for SHIB’s price trajectory.
As traders watch closely, Shiba Inu’s ability to surpass these resistance levels will determine whether it can achieve the significant gains predicted or if a correction is on the horizon.
