Shiba Inu (SHIB) may be gearing up for a massive spike as cryptocurrency analysts are divided on what could come next. Javon Marks, one popular social media member in the crypto-verse, has taken to X, formerly known as Twitter, with some very bullish comments that SHIB is on the brink of a major breakout.
According to Marks, a serious price pattern has been forming that suggests SHIB could be getting ready for an explosive move higher. At the same time, though, another analyst, Alan Santana, suggests this current market phase is not going to rally but gives way as an opportunity for long-term accumulation only.
The Falling Wedge Pattern
Marks is optimistic due to the formation of what is known as a Falling Wedge pattern, which usually forms as a bullish reversal. This wedge has been emerging for many months, and SHIB is now reaching the point where a breakout could occur.
$SHIB (Shiba Inu)’s ≈6X:
Prices of Shiba are currently nearing the converging or breakout point of a massive Falling Wedge pattern on the daily (1d Chart) and with a recent confirmation of a Regular Bullish Divergence, this can be pointing to a bullish breakout!
This can spark… pic.twitter.com/sAUSyrH4q0
— JAVON
MARKS (@JavonTM1) August 17, 2024
Marks said that the narrowing price action inside the wedge indicates a big price shift might be due. Should SHIB break out, Marks assigns a target price of $0.000081, which would be an incredible 498% higher from current levels.
Rising Investor Interest In Shiba Inu
Currently, SHIB stands at a price that is close to $0.000013, which signals that it is worth over 1% more in the last day. The insignificance of this price jump may serve as a rebounding sign for SHIB, which jumps to 25% from the lows of $0.000010 not too long ago.
But not everyone is swayed that SHIB will experience such drastic moves in the short run. For example, Alan Santana, a respected crypto analyst, is a bit more level-headed.
Shiba Inu Pre-2025 Bull-Market Accumulation Zone & Strategy
Please, let me start by saying that the all-time high potential is based on the current price. Since Shiba Inu can move lower within the “accumulation zone,” by the end of the upcoming bull-market total growth… pic.twitter.com/fLdTbOGQvm
— Alan Santana (@lamatrades1111) August 17, 2024
Santana holds his opinion that SHIB is within an active correction phase, which is likely to further slash its price before any substantial gains can be accrued. A sideways move and consolidation period shall be the best move for long-term investors in this case.
Accumulation Zone And Long-Term Strategy
Santana noted that the prevailing range is an accumulation zone—where patient investors are able to build their SHIB positions at lower levels before the token is reclaimed at parity.
He sees SHIB rising by a factor of around 20 to 25 times from its current price by the peak of the next bull run in much the same way. According to him, this would only happen after 2025. For those looking to gain from a long perspective, Santana says patience is the name of the game.
Featured image from Pexels, chart from TradingView
Source: NewsBTC.com
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