Renowned analysts are suggesting that Shiba Inu holders can expect a significant surge of 120%, potentially driving SHIB to a value of $0.00051 after breaking free from its downward trend.
Over the past few days, Shiba Inu has continued to show positive results for its holders, with an impressive 11% growth in its one-week trajectory. Currently priced at $0.00002501, Shiba Inu has successfully recovered from its losses in April and has achieved an overall gain of 15% in the past 30 days.
Despite these already commendable achievements, analysts strongly believe that Shiba Inu has not yet reached its upward trend. A widely followed analyst known as “World Of Charts” shared this sentiment in a recent post on X.
In the post, the analyst included a chart that demonstrates how Shiba Inu is still trading within a descending channel, indicating that its breakout from the bearish trend has not been confirmed yet.
However, the analyst also pointed out that if Shiba Inu successfully reverses this trend, it could have tremendous potential for SHIB holders. In fact, the analyst proposed a 120% surge that would increase SHIB’s market value by $0.00002912, ultimately reaching the $0.00051 price level.
It’s worth noting that the bearish period being analyzed is Shiba Inu’s decline since the March frenzy, during which the asset reached a value above $0.000045. The subsequent SHIB patterns have shown a consolidation with consistently lower highs. Analysts believe that this trend, which has persisted for over two months, is ripe for a reversal.
Another market watcher named Davie conducted a separate analysis and identified a similar pattern on the Shiba Inu chart, indicating an imminent bullish breakout. Like World Of Charts, Davie also presented a graph that suggests the $0.0005 threshold as Shiba Inu’s next target.
Essentially, these propositions indicate that SHIB holders can expect their investments to double in the near future.
Responding to these forecasts, a Shiba Inu supporter suggested that the anticipated surge may happen sooner than expected. This individual argued that the Shiba Inu surge could occur as early as June, within the next three weeks. Furthermore, they proposed a more audacious prediction of a six-fold increase, potentially driving SHIB above $0.00015 within their projected timeline. This prediction draws inspiration from Shiba Inu’s impressive performance in March, during which it experienced a more than threefold rise in less than ten days.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The views expressed in this article are solely the opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic cannot be held responsible for any financial losses incurred.