Shiba Inu (SHIB) has the potential to experience a significant surge in price, potentially doubling its value, according to analyst Davie Satoshi. Satoshi recently shared his insights on SHIB’s tightening coil pattern on social media, suggesting that the cryptocurrency is preparing for a breakout that could result in a doubling of its current value.
Satoshi’s chart reveals that SHIB has been following a bearish trend from March to late May, forming a descending channel with prices dropping from approximately $0.000045 to $0.00002. However, in mid-May, SHIB broke out of this descending channel, indicating a possible bullish reversal.
Despite the breakout, SHIB has been consolidating within an ascending channel, keeping market participants on edge. At the time of writing, Shiba Inu has once again broken above its current channel around $0.000025, suggesting the potential for significant upward movement.
This breakout has attracted the attention of investors and analysts, with experts like Satoshi anticipating a strong rally in the near future. Satoshi believes that the current phase may be the final opportunity for investors to enter before SHIB’s expected price surge. He confidently states that the SHIB pattern typically precedes a powerful rally, predicting that the token could achieve a 2x gain from its current level, and potentially even more in the near future.
In a recent analysis, market expert Javon Marks projected a potential rally for Shiba Inu, with a possible price target of $0.0000886 in its next upward push. This forecast implies a significant 240% increase from its current value, potentially surpassing its all-time high.
Marks also highlighted the importance of the $0.000081 level, identifying it as a crucial benchmark. Reaching this level would represent a 210% rise from SHIB’s current market price. Furthermore, surpassing this key level could pave the way for additional gains, with $0.0001553 as the next target. Currently, SHIB is trading at approximately $0.00002592.
It is important to note that this content is for informational purposes only and should not be considered financial advice. The views expressed in this article are the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.