Get Ready for a Potential Price Surge in Shiba Inu
If you’re a Shiba Inu investor, it’s time to pay attention to the potential price surge that could be on the horizon. After experiencing a significant correction in recent months, SHIB has shown signs of rebounding and may be poised for some exciting price action in the coming weeks. According to a prominent crypto analyst, there is the possibility of a massive surge of up to 120% once SHIB breaks out of its current consolidation phase.
The Forecast for a Bullish Breakout
SHIB saw a sharp price correction after hitting 0.00003556 in early March, leading to a shift from bullish to bearish sentiment among investors. This resulted in a 40% decline that bottomed out at $0.00002117 in mid-April, marking one of the steepest price drops for SHIB since the Terra ecosystem collapse in May 2022.
- Bullish sentiment turned bearish after reaching 0.00003556
- 40% decline from March to April
- Worst price drop since May 2022
Analyst Predicts a Strong Bullish Wave 📈
On an 8-hour timeframe chart posted on social media by World Of Charts, it’s evident that SHIB has been consolidating for the past two months. However, the analyst suggests that a bullish breakout is imminent, potentially triggering a robust bull run that could yield returns of 100% to 120% for SHIB holders.
Potential for an Extended Price Surge 🚀
Further analysis of the chart shared by World Of Charts indicates the possibility of a more substantial price surge over an extended period. The final price target on the chart is set at $0.00009500, representing a 280% increase from current levels.
Is Shiba Inu Primed for Further Growth?
Recently, Shiba Inu formed a higher low on the weekly timeframe, signaling a potential shift in momentum in favor of the bulls. Despite the previous downturn, a significant portion of SHIB holders remained profitable, with the cryptocurrency currently trading at $0.00002489, up 6.4% in the last week. This increase has pushed the percentage of profitable SHIB holders to 61%.
Optimism Among Investors 📈
Many investors are optimistic about a price increase in May, as evidenced by the reluctance of profitable addresses to cash out. One potential catalyst for further growth could be the recent collaboration between PayPal and MoonPay, allowing US PayPal users to easily purchase Shiba Inu.
Analyst’s Bullish Prediction 🐕
Renowned crypto analyst Ali Martinez has also forecasted a price surge for SHIB, based on a bull flag pattern that has emerged on the cryptocurrency’s price chart.
Hot Take: Prepare for Potential Growth in Shiba Inu 🚀
Shiba Inu has rebounded from its recent lows and is showing signs of a possible price surge in the near future. Keep an eye on SHIB as it may be gearing up for a significant bullish breakout, potentially offering lucrative opportunities for investors. With positive indicators and catalysts in play, the outlook for Shiba Inu appears promising, paving the way for potential growth in the coming weeks.
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