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HomeCryptocurrencyMarket Analyst Projects Shiba Inu (SHIB) to Experience 100% Surge. Here's the...

Market Analyst Projects Shiba Inu (SHIB) to Experience 100% Surge. Here’s the Timeline

Per multiple sources, Shiba Inu has been projected to achieve remarkable price highs soon, which could be said to be a testimony of the canine-themed coin’s resilience over the past few years.

In one of the most recent price projections, Captain Fabik, a renowned crypto market analyst, took to X to make a bold projection of SHIB undergoing a rally that would see it spike 100% by mid-December.

Read Also: 627 Trillion Shiba Inu (SHIB) Nears Break-Even Point. Here’s the Significance

Adding Shiba Inu (SHIB) price charts to his analysis, the crypto analyst noted that Shiba Inu just escaped a significant trendline and is currently facing a retest. 

A Breakdown Of Fabik’s Latest Analysis 

According to the price chart attached to Fabik’s tweet, SHIB has successfully exceeded the resistance around the $0.00000839 price level, which ushered it into a retest phase. 

The crypto analyst noted that should the retest be successful, a 100% surge in SHIB’s price becomes a possibility. This suggests that the token would be worth approximately $0.00001678 by mid-December. 

Possibility Of The Projection Playing Out 

Citing previous price trends, the last time SHIB succeeded in nearing a price level around $0.00001678 was in August 2022 after a transient bull run. 

Since the rally in 2022, SHIB has always struggled to break above the $0.00001 resistance level. According to data from CoinGecko, Shiba Inu has been down by 0.9% in the past year. 

However, the token has been impressive in the past few weeks, registering a 30.8% increment in value within a month interval. 

At the time of writing, SHIB is changing hands at $0.00000908 with a market capitalization of $5,321,034,372 and a trading volume of $338,070,041. These are impressive indices that depict growth potential in terms of price. It is left to see what becomes of the token in December.

Read Also: Top Analyst Points Out Shiba Inu (SHIB) Promising Setup for a Bullish Price Breakout

Telegaon Price Forecasts Appear To Tally With Fabik’s Analysis 

Per one of our previous news articles, Talegaon, a renowned crypto price analytics platform, waded into the SHIB price debate, highlighting some specific price targets for the token in the long run. 

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According to Talegaon, SHIB could attain minimum and maximum prices of $0.0000122 and $0.0000316, respectively. These values fall within a similar range of price projections by Fabik, implying that the projection might not necessarily be a mere fluke. 

While this insight seems to be projecting a bright future for Shiba Inu, readers are enjoined to do research and relevant investigations before investing in the project.


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Chinedu Agbakwusi
Chinedu Agbakwusi
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.
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