Shiba Inu (SHIB) Displays Bullish Signals and Forecasts a Significant Price Surge to $0.000080

A leading analyst claims SHIB is now displaying bullish signals and forecasts a significant price surge to $0.000080.

Leading analyst claims SHIB is now displaying bullish signals and forecasts a significant price surge to $0.000081.

Shiba Inu (SHIB) has begun 2024 positively, managing to consolidate above a crucial breakout level. This development has sparked optimism among traders and analysts, hinting at a potential rally in the months ahead.

Analyst: SHIB Showing Strong Bullish Signals

Currently, Shiba Inu is trading at approximately $0.00002182, reflecting a 2% increase over the past 24 hours.

''Shiba Inu recently broke free from a long-standing resistance trendline, reaching a seven-month high of $0.003329 in the first week of December. However, following this impressive rally, SHIB entered a corrective phase, retracing significantly to levels seen before the breakout, with lows around $0.0000186 occurring a few weeks after the peak.

Importantly, Shiba Inu successfully retested the breakout level as support as it rebounds and trades in the $0.000021 range. This movement is a strong bullish signal, in my opinion, suggesting that SHIB is set for a continuation of its upward trend after validating the support at the breakout level.''

Marks has set a price target of $0.000081 for SHIB, which would represent a substantial potential gain of 264% from its current price.

This target is particularly noteworthy, as it reflects the price range where SHIB bulls lost momentum during the last cycle.

''Throughout 2024, I've been highlighting the $0.00008 mark for SHIB, and I believe it will eventually reclaim this significant price point.''

Going further, Marks has proposed an even loftier target for Shiba Inu, suggesting it could reach the unprecedented price range of $0.000155. He argues that this threshold would be a likely destination for SHIB in this bull cycle, further underscoring the asset’s potential.

''This level, in my estimation, would serve as the final barrier in this bull cycle, potentially leading SHIB to continue its ascent to new highs in the subsequent cycle.''

Hidden Bullish Divergence In SHIB

Adding to the bullish narrative is the presence of hidden bullish divergence in SHIB’s chart. This phenomenon occurs when the price action creates higher lows while momentum indicators form lower lows.

This divergence suggests an underlying strength in the asset, reinforcing the notion that SHIB is poised for further upward movement.

Traders are now keenly watching the short-term target of $0.000081, with hopes that this rally will pave the way for even greater achievements by Shiba Inu in the future.

As optimism grows, SHIB continues to capture the attention of the crypto community, setting the stage for an exciting 2025.