Shiba Inu (SHIB) Could Rally 2X in December: Predicts Analyst

Shiba Inu (SHIB) has had a lackluster year in 2023. Despite a significant layer-2 network launch, SHIB’s price has struggled to generate upward momentum. Since January of this year, SHIB has gained only about 4%. Even SHIB’s rival, Dogecoin (DOGE), has surged just a little more than 4% in the same time frame. Hence, memecoins, in general, seem to have taken a back seat in 2023. Nonetheless, one analyst predicts that Shiba Inu could see a price rally in December.

According to crypto analyst Captain Fabik, Shiba Inu (SHIB) has broken out of its major trendline and is witnessing a retest. As per Captain Fabik, ‘If the retest is successful, we might witness a Bullish Rally up to 2x by mid-December.’

A 2X rally would push SHIB’s price to around $0.00001694 from current levels. Moreover, the price point would be a new high for SHIB in 2023. The popular memecoin has struggled to delete a zero after its decimal point, which it gained in May. Although SHIB did remove a zero in August, the token could not hold the price point.

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