Shiba Inu, the popular meme coin, has once again caught the attention of a crypto analyst who has made a bullish prediction about its future price. This time, the analyst, Javon Marks, is foreseeing a significant surge in the price of SHIB, with expectations of reaching a new all-time high as the rally progresses.
According to Marks, Shiba Inu’s price has been trading within a small Bull Flag pattern, but it has now broken out of this pattern. This breakout could potentially trigger a major rally for the meme coin. Marks expressed his optimism by stating that this breakout might lead to another substantial upward movement in an already impressive upward trend.
The analyst highlighted that the breakout is crucial because of the potential price levels that SHIB could reach. Initially, Marks anticipates the price to surpass its current all-time high of above $0.000081. Furthermore, if the rally continues, he believes that SHIB could surge as high as $0.00015.
While the initial target represents a more than 300% increase in price, Marks is more focused on the “larger breakout” that he foresees. This breakout could lead to an over 800% increase in price, with SHIB potentially moving towards $0.0001553. This optimistic outlook reflects Marks’ bullish sentiment towards Shiba Inu.
Marks’ recent analysis is part of a series of bullish predictions he has made for Shiba Inu since September 2023. Despite the crypto market facing bearish conditions due to Bitcoin’s price decline, Marks remains confident in SHIB’s potential. The meme coin has already experienced significant price gains following his previous analyses, and he expects this upward momentum to continue until SHIB breaks out to $0.000081.
It is worth noting that Shiba Inu’s price has been affected by the broader market trends, with a 9.42% decline in the last day and an 18.16% drop on the weekly chart. However, Marks’ analysis suggests that SHIB could overcome these challenges and rally towards new all-time highs.
In conclusion, the bullish prediction made by crypto analyst Javon Marks has instilled confidence in Shiba Inu investors and enthusiasts. As the meme coin continues to defy market expectations, all eyes are on whether SHIB can indeed reach the price targets set by Marks and establish new records in the cryptocurrency market.