Senior market analyst Javon Marks expects Shiba Inu (SHIB) to rise sharply, predicting a potential price range of $0.000081 to $0.0001553. This optimistic outlook comes as SHIB is showing strength in the current recovery phase.

Over the past two weeks, Shiba Inu, like many cryptocurrencies, has experienced a correction, causing the price to drop by more than 14%. However, SHIB has rebounded 17.10% this week, signaling the start of a new uptrend.

Impressive strength and growth potential

In a post on This strength could push the meme-inspired cryptocurrency to reclaim the $0.000081 area, a price level not seen since the all-time high of $0.00008845. If this happens, SHIB can create a launchpad to retest or even surpass the previous ATH.

The analysis further states that Shiba Inu has decisively broken out of a 16-month downtrend resistance. This encouraging development strengthens the bullish outlook for the asset. If the momentum continues, Marks expects the price to rise further to $0.0001 and even a new all-time high of $0.0001553, which would represent a gain of about 90%.

Key price levels and market sentiment

In order to achieve these ambitious goals, the Shiba Inu needs to overcome several resistance levels. According to data from IntoTheBlock, a key hurdle lies within the $0.000056 to $0.000131 price range. Despite the resistance, the broader crypto market appears confident that the Shiba Inu can break through the $0.0001 area.

According to CoinMarketCap, Shiba Inu is currently trading at $0.00003064, with a 24-hour trading volume down 39.48% to $1.04 billion. Investor interest has slightly declined, with open interest (OI) down 4.52% to $106 million in the past 24 hours.

Beyond Technical Analysis

Shiba Inu's growth potential does not depend solely on technical indicators or market dynamics. The passion and unwavering support of the SHIB Army provides a unique advantage in the cryptocurrency space.

The Times tabloid recently reported on the SHIB Army’s excitement over Shytoshi Kusama’s response to a tweet from Ethereum co-founder Vitalik Buterin, in which he shared his surprise at SHIB’s massive growth.

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As the project continues to grow, this dedicated community could be the key factor in driving SHIB to new heights.

It is important to remember that the cryptocurrency market is extremely volatile. While Max’s analysis suggests that Shiba Inu is bullish, investors should conduct thorough research and consider their own risk tolerance before investing.