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Top Analyst Foresees 115% Shiba Inu Rally To $0.000022 As SHIB Deletes a Zero

Shib Knight (@army_shiba), a prominent analyst within the Shiba Inu community, has offered a bullish outlook for SHIB. His prediction suggests a significant price increase in the coming months, potentially reaching a new high not seen in over two years.

Shib Knight identified a crucial resistance level that Shiba Inu (SHIB) has struggled to overcome since August 2022. This information is further supported by a weekly chart highlighting the asset’s repeated attempts to break through this barrier.

Whale Alert

Read Also: Big Shiba Inu Whale Buys Additional 150 Billion SHIB

Positive Momentum and Upcoming Breakout

While acknowledging the lack of significant breakouts despite recent favorable market conditions, the analyst expresses optimism that Shiba Inu will finally surpass this resistance point. He emphasizes that the asset has consistently formed higher lows since June 2023, indicating positive momentum despite the absence of major price movements.

Price Prediction and Potential Timeline

Shib Knight’s analysis, based on the weekly chart, suggests promising prospects for the coming months. The analyst wrote, “First target is 0.000022. Keep in mind that this is weekly chart. So, following months are promising.”

He predicts that a successful breakout could trigger an initial rally towards $0.000022, marking a significant increase from the current price of $0.00001024. However, the analyst refrains from providing a specific timeline for this potential price target.

Reaching $0.000022 would represent a remarkable 115% surge, surpassing the previous high of April 2022, and potentially setting it on the path toward its all-time high of $0.00008845.

After a recent bullish post from Shytoshi Kusama, Shiba Inu’s lead developer, the potential for a surge like this has generated excitement among Shiba Inu enthusiasts, many of whom are closely monitoring the asset’s price movements.

Read Also: Shiba Inu Burn Surges 499,416% in 24 Hours as SHIB Nears Breakout Point


Additional Considerations and an Impending Surge

It is important to acknowledge that cryptocurrency markets are volatile, and unforeseen factors can significantly impact price movements. This applies especially to meme coins, and while Shib Knight’s analysis offers a potential scenario, SHIB might not reach that target. However, this volatility extends both ways, and the digital asset could climb farther than Shib Knight expects.

Despite the recent downtrend, Shib Knight’s prediction provides a counterpoint, offering a potentially optimistic outlook for Shiba Inu in the coming months. Other analysts also believe that a SHIB breakout is imminent, and Shib Knight’s emphasis on historical price movements and positive momentum, coupled with the potential for a significant price increase, has garnered positive attention within the Shiba Inu community.

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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

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