- Shiba Inu (SHIB) is up 8% this week, with strong bullish momentum and signs for further growth.
- SHIB trading volume also surged by 173%, to $342.90M, pointing to positve market activity.
- A 500% price surge is still on the table as SHIB continues to gain momentum.
Shiba Inu (SHIB) is on the positive price trajectory and holding strong its bullish momentum. Over the past week, SIB is up by almost 8% showing signs of further upward momentum. SHIB hit its recent low at $0.00001095 and bounced back from this support level and now gearing up to surpass resistance with positive market momentum.
The overall market is in recovery phase after a huge sell off that caused fear among the market. With Bitcoin bounce and bullish price trajectory altcoins are gaining momentum and positioning itself for gains.
Currently, Shiba Inu is slightly up by 1% in the last 24 hours with a trading price of $0.00001322. Moreover, its trading volume is also up by 173% showing signs of huge upward move. SHIB 24-hour trading volume is at $ 342.90M, with a market cap of $ 7.79B.
Shiba Inu Eyes 500% Surge as Breakout Targets Hold Strong
Crypto market analysts remain highly optimistic about Shiba Inu’s future price action, pointing to significant breakout targets and bullish technical indicators.
Javon Marks has reaffirmed his bullish price target on SHIB of $0.000081, which would represent a 500% move from current levels. SHIB has already broken through key resistance zones and is continuing to show strength, says Marks, reaffirming the potential for another leg to the upside.
“The breakout target at $0.000081 remains unchanged! As SHIB sustains its bullish momentum and uptrend, the possibility of a massive 500% upside remains well in play,” Marks stated.
Adding to the bullish sentiment, CryptoELITES suggested an even more aggressive price target, questioning, “Why not a 12X for SHIB?” He believes SHIB is currently in a strong accumulation phase, with whales accumulating heavily in a high-conviction buy zone.
“The setup is there, a big move is coming soon! SHIB’s technical structure suggests that we could see a parabolic rally, potentially leading to a 12X surge from here,” CryptoELITES predicted.
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