Shiba Inu (SHIB) recently hit a major milestone, breaking the key resistance at $0.00025. It is considered a very strong indicator for an imminent value surge, noting the fact that breaking past resistance levels usually results in a heavy price surge.
SHIB has been running through a 9% upswing over the last week and presently indicates strong buying momentum. Analysts are paying attention since they are overly optimistic about what is yet to come for the price movement of SHIB, with most predicting huge gains in the week ahead.
The rise in SHIB is part of a more expansive trend with a handful of meme coins that also include PEPE, FLOKI, and DOGE. These are also among the more popularly-favored coins seeing increased investor demand, with the purchasing value appreciating a considerable rise. The strong demand for meme coins clearly indicates a change in market dynamics where alternative cryptocurrencies are gaining popularity and are offering good investment opportunities.
At the time of writing, Shiba Inu’s price is $0.00002576. The coin has a 24-hour trading volume of $726.79 million, reflecting the high activity level and investor interest. Its market capitalization stands at an impressive $15.18 billion, underscoring its significance in cryptocurrency. In the last 24 hours alone, SHIB’s price has increased by 1.09%, further cementing its upward trend.
Analyst Predicts 210% Surge for Shiba Inu to $0.000081
Crypto analyst Javon Marks has shared his optimistic outlook on the price trajectory of Shiba Inu (SHIB). According to Marks, SHIB has recently broken out of a “smaller” Bull Flag pattern, which could be the catalyst for another significant upward movement in its already impressive climb.
With this smaller breakout, Marks emphasizes that SHIB could continue its rise toward a target of $0.000081. This goal is an increase of more than 210% from the current price and over 3x its price, essentially in a real sense. The larger breakout pattern held by SHIB further supports this bullish view thus showing strong upward momentum.
Additionally, if shib passes through the $0.000081 stage, Marks believes that another huge jump of about 90% could occur, driving it to $0.0001553.The possibility would represent a momentous gain and may be indicative of a new chapter for growth in the shiba coin.
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