Analysts are predicting a massive price surge for Shiba Inu (SHIB), potentially reaching new all-time highs. Let’s dive into why they’re so bullish.
A 1000-Day Wait is Over?
One analyst, Andy, believes SHIB is about to break out of a long consolidation period—a whopping 1000 days! He sees this as mirroring XRP’s past price action before a huge jump. Key technical indicators, like Fibonacci extensions, point to a potential trend reversal. He also spotted an inverse head-and-shoulders pattern, a classic bullish signal.
More Than Just Hype?
Andy isn’t just relying on charts. He thinks SHIB’s ecosystem improvements, like the Shibarium upgrades, token burns, and new tokens (TREAT and SHI), could reignite interest in the coin. A shrinking supply on exchanges and the overall positive crypto market sentiment (some are calling this a Bitcoin supercycle) could further fuel the rally.
Burning Questions (and Tokens)
The SHIB burn rate has been a bit erratic. While it dropped significantly on May 16th, it’s recently seen a massive increase, with millions of tokens burned in the last few days. This fluctuating burn rate adds an element of uncertainty, but the recent surge is definitely noteworthy.
Other Analysts Weigh In
Other analysts are equally optimistic. Javon Marks noted SHIB’s recent strong performance, with a nearly 30% recovery. He predicts a potential 4x price increase, with a possible target of $0.000081. Another analyst, SHIB Knight, sees a “falling wedge” pattern forming, suggesting a move towards $0.00002 as a stepping stone to even higher prices.
Current Price and Outlook
Currently, SHIB is trading around $0.00001438. While it’s slightly down in the last 24 hours, the overall analyst sentiment is overwhelmingly bullish, predicting a significant price increase in the near future. Whether it’s a 400% jump or a more modest gain, the potential for substantial growth is certainly on the table.