đ„đ„đ„ #Shibalnu #WAVE 3 Ready for 10x Surge: Analyst Predicts New All-Time High
Shiba Inu (SHIB) Mimicking Dogecoinâs Path, Primed for Breakout
- Charting Guy, a prominent analyst, believes Shiba Inu (SHIB) is following Dogecoin's price patterns, setting up for a potential breakout. In response to a query about altcoins with the potential for a 10x return, he highlighted Dogecoin, XRP, and FET but initially left out SHIB, raising concern among Shiba Inu fans.
SHIBâs Potential for a 10X Surge
- Addressing the omission, the analyst assured that SHIB has as much potential as #DogecoinâŹâ© . He noted that SHIB recently faced resistance at the "golden pocket," a key Fibonacci retracement level between 0.618 and 0.65, during its return to the $0.000031 to $0.000045 range. Despite this rejection, SHIB found strong support at the 0.236 Fibonacci level, aligning with its current price around $0.000013, indicating possible stabilization for another upward move.
On Track to Surpass All-Time Highs
- The analyst further explained that SHIBâs price action follows Elliott Wave Theory, with waves 1 and 2 already complete. This sets the stage for wave 3, typically the most powerful, potentially propelling SHIB beyond its all-time high (ATH) of $0.00008845, requiring a 556% gain to break this level. He also pointed out that many altcoins are displaying similar patterns, hinting at an explosive bullish wave that could push several to new ATHs.
Source - thecryptobasic.com
