Shiba Inu Token on the Verge of Gaining Rapid Grounds
A well-known crypto trader is optimistic that top memecoin Shiba Inu (SHIB) is set to experience substantial gains in the near future.
Kaleo, an analyst with a vast social media following, indicates that Shiba Inu is showing signs of a potential surge after breaking through a horizontal resistance and confirming it as support.
Reviewing the trader’s chart, the forecast suggests that SHIB could soar above $0.000015 at the start of December. Currently, SHIB is valued at $0.00000861, implying gains of over 74% if the memecoin reaches the projected target.
Kaleo is also monitoring FLOKI (FLOKI), another popular memecoin. As per the cryptocurrency strategist, FLOKI may witness rallies if it manages to surpass a diagonal resistance around $0.00004.
At present, FLOKI is priced at $0.000032.
Regarding Bitcoin (BTC), the analyst believes that the recent correction is intended to shake out speculators before a rally to a new 2023 high.
Bitcoin is currently valued at $36,507.
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Analyst’s Positive Outlook on Memecoins and Bitcoin
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