Shiba Inu (SHIB) may surge by 52%
Shiba Inu, a canine-themed cryptocurrency, is gaining attention as crypto enthusiasts monitor its recent performance and potential for a significant surge. Despite lagging behind some counterparts in the market, an expert predicts SHIB could shoot up by 52%, reaching $0.00001492.
Recent Uptick & Success
Shiba Inu has seen a notable increase in prices, though it hasn’t fully participated in the ongoing relief rally. Earlier this week, it successfully removed a zero after its price, reaching $0.00001. However, it has dropped back below that mark and is currently at $0.00000973.
SHIB to Reach $0.00001492
In a recent tweet, a renowned crypto expert and Shiba Inu enthusiast shares an optimistic outlook for SHIB’s future, predicting that Shiba Inu is poised to break the $0.00001 barrier again and might even reach $0.00001011, $0.00001193, and $0.00001309. The analyst expects SHIB to ultimately hit $0.00001492, requiring a substantial 52.7% rally from its current price of $0.00000977.
Reasons for Optimism
The analyst points to the ongoing positive sentiment in the market and Shiba Inu’s recent breakout in the weekly charts as reasons for the expected surge. Additionally, SHIB recently crossed the 50-day EMA at around $0.00000940, a move that historically led to an 80% price increase in October 2023. Crucial support levels for Shiba Inu at $0.00000953, $0.00000896, and $0.00000880 have also been highlighted by the expert.
Price Analysis
SHIB is currently trading at $0.00000973, showing a 1.83% decrease in the last 24 hours and bringing its market capitalization to approximately US$5.84 billion. Despite being down 88.7% from its all-time high of $0.00008616 in October 2021, Shiba Inu maintains support above the EMA20 trend line. With the RSI hovering around 65 and the 20-day EMA on the rise, sellers currently lack a clear advantage in the market.
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