Shiba Inu's price may be falling right now, but one analyst says the meme coin is primed for a rally as it's currently flashing a buy signal. According to Cantonese Cat, SHIB is currently flashing a strong buy signal based on the little-known L3 Banker Fund Flow Trend Oscillator.
In a detailed analysis shared via a YouTube video, Cantonese Cat explored SHIB's recent price action in conjunction with this oscillator, which shows that the price is poised to surge at least 5x to its all-time high, until a sharp increase of over 2430% to a target of $0.00047.
Shiba Inu Flashing Buy Signal
Cantonese Cat's latest analysis on Shiba Inu offers an interesting insight into the meme coin's price action alongside other altcoins. The video in which he shares his analysis addresses SHIB's current move in relation to the larger altcoin market. As such, the analyst notes that Shiba Inu is one of ten cryptocurrencies among Optimism, Avalanche, Cardano, Chainlink, Boba Network, COTI, Amp, Cartesi, and Injective that are all flashing buy signals with the L3 Banker Fund Flow Trend Oscillator.
L3 Banker Fund Flow Trend Oscillator is a technical indicator used to analyze the flow of capital into and out of cryptocurrencies among major market participants. A detailed analysis of SHIB's price action using this indicator shows that this buy signal is extremely rare. The last time it flashed a buy signal for SHIB was in July 2023.
At the time, SHIB was trading below $0.000008. Whatâs more interesting is that despite the buy signal that appeared at the time, SHIBâs price continued to consolidate for another six months before finally experiencing a strong rally in February 2024 during the overall cryptocurrency market bull run. Flash forward to October 2024, and SHIB is now showing another sign of a bull run with the L3 Banker Fund Flow Trend Oscillator.
Expected SHIB price target
While the buy signal is taken from the bank fund oscillator, the analyst uses Fibonacci levels to predict potential targets when the eventual breakout occurs. The first target is the 1.0 Fibonacci extension level, which is in line with SHIB's current all-time high of $0.0000884. He also notes a final "crazy target" for those anticipating a larger rally. This final target is at the 1.618 Fibonacci extension level, which is in line with $0.00047.
To reach this price, SHIB would have to clear multiple resistance levels, both before and after breaking above its all-time high. Reaching this âcrazy targetâ would represent a 2,430% gain, or about 30x from its current price. Cantonese Cat believes this target could be reached by August or September 2025, although he admits it is a very ambitious target. A more realistic target, he says, would be a 10x gain from SHIBâs current price.
