Shiba Inu Price Could Skyrocket By 1,100%, Predicts Analyst
2024年6月10日 - 10:00PM
NEWSBTC
In an analysis, Moataz “Eljaboom” Elsayed, a crypto analyst and
Forbes 40 under 40 nominee, has forecasted a significant surge in
the value of Shiba Inu (SHIB). According to Elsayed, the meme-based
cryptocurrency is poised for a potential increase that could see
its value reach $0.00024, marking an unprecedented 1,105% gain from
its current levels. Shiba Inu Price Set To Skyrocket 1,100%? In a
review of SHIB’s price activity on the weekly chart (SHIB/USDT),
Elsayed pinpointed a repeating pattern that initially occurred
during the second quarter of 2021, shortly after Binance, a major
crypto exchange, began trading SHIB. According to him, Shiba Inu’s
historical data is exhibiting a pattern that, if repeated, will
propel its price to new heights. He noted that the cryptocurrency
experienced a notable rise to $0.00005 during the week of May 10,
2021, following its listing on Binance. Related Reading: Shiba Inu
Open Interest Returns To February 2024 Levels, What Happened Last
Time? Elsayed’s analysis draws attention to a critical period in
SHIB’s market behavior. After reaching a high of $0.00005, the
token underwent a correction, settling below a pivotal support
range of $0.00001784 to $0.00001995 for nearly 120 days. However, a
subsequent breakout occurred in October 2021 as the broader bull
market gained momentum, catapulting SHIB by 343.64% from its
support level to a peak of $0.00008854. History Is Repeating Itself
👀 #SHIB pic.twitter.com/zeeXVWhpKZ — Elja (@Eljaboom) June 8, 2024
The subsequent correction and entry into a bear market, exacerbated
by the collapse of the Terra ecosystem in May 2022, saw SHIB prices
fall below key support levels. It remained subdued under these
levels for 658 days, struggling to surpass the $0.00001 mark. Yet,
a resurgence in March of this year saw SHIB soar by more than 370%
to a yearly high of $0.00004567. Building on this data, Elsayed
anticipates a similar, if not more pronounced, trajectory for SHIB
in the near future. He estimates that this next breakout could
propel SHIB’s price to $0.0002404, effectively increasing its
market capitalization to $141.6 billion. Given the cyclical nature
of the crypto market, such could be on the cards, according to the
crypto analyst. Related Reading: Shiba Inu Whale Enter Buying
Frenzy, 715 Billion SHIB Snapped Up In Days In the daily SHIB/USD
chart, Shiba Inu’s price is currently in a consolidation phase,
following a significant rally to this year’s high in early March.
Despite breaking out of a symmetrical triangle pattern in mid-May,
SHIB failed to sustain a close above the 0.382 Fibonacci
retracement level of $0.00002883. Subsequent to this rejection, the
price fell below the 0.236 Fibonacci level and is now struggling to
establish support at the 100-day Exponential Moving Average (EMA).
Maintaining a daily close above $0.00002326 is critical to prevent
a potential further decline towards the 200-day EMA at $0.00001977.
Featured image created with DALL·E, chart from TradingView.com
SHIBA INU (COIN:SHIBUSD)
過去 株価チャート
から 8 2024 まで 9 2024
SHIBA INU (COIN:SHIBUSD)
過去 株価チャート
から 9 2023 まで 9 2024