Shiba Inu (SHIB) has experienced a massive resurgence this month. After a surge of over 250% in just two weeks, SHIB is captivating the attention of cryptocurrency enthusiasts, stirring memories of the explosive bull run witnessed in October 2021. During that period, SHIB skyrocketed to an all-time high of $0.00008845.
822% Price Increase on the Horizon?
Alan Santana, a well-respected crypto analyst, has offered a bold prediction on TradingView for SHIB’s future. Santana’s analysis suggests a significant price increase for Shiba Inu. The analyst believes SHIB is poised for a breakout, potentially leaving its current price in the dust. Given the bullish trend, Santana suggests SHIB has the momentum for an 822% surge.
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Although the analyst set a maximum target of $0.00001890, an 822% surge from SHIB’s current price of $0.00003315 translates to a potential new all-time high of $0.00027, a lucrative prospect for long-term investors. On the path to his ambitious target, Santana listed other milestones for SHIB, ranging from $0.00000888 to $0.00001890.
He advised that investors buy in between $0.00000742 – $0.00000824. However, seeing that Shiba Inu has surpassed his buy-in range and has crossed all the levels he predicted, this is the best time to buy in as SHIB heads for $0.00027. This new target will send SHIB far beyond the level another notable analyst recently predicted.
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Important Considerations for Investors
Acknowledging that Santana’s prediction is geared toward long-term investors is crucial. Those seeking short-term gains are advised to approach this forecast with prudence. Santana emphasizes timing and patience as tools for leverage trading.
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At the time of writing, SHIB is relatively 6% down in the last 24 hours and down 17% in the last seven days.
CoinMarketCap data shows that the digital asset is trading 62.42% below its all-time high, and its recent performance has rekindled optimism about the meme coin attaining a new all-time high.
However, SHIB remains in a good place, and developments around Shibarium and other Shiba Inu ecosystem projects show exciting prospects. SHIB is also forming bullish signals on its chart, further bolstering the bullish sentiment around the meme coin. If the digital asset can keep its momentum, a new all-time high might be around the corner.
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