Can $SHIB replicate the wealth creation myth of 2021? Soared 1200%
The SHIB market has experienced a correction recently. Affected by traders' profit-taking, prices have fallen for two consecutive days. Despite facing short-term adjustments, some market analysts are still optimistic about the prospects of SHIB and predict that it is expected to return to strength. The target is directly at $0.000088.
In the current bull market, SHIB has achieved a significant rebound of 137% since the August low. This rally has kept pace with the upward trend of Bitcoin and other meme coins, and is driven by expectations of interest rate cuts by the Federal Reserve and the possibility that Trump will lead This is due to the dual push from a more relaxed regulatory environment. Some analysts pointed out that SHIB may be brewing a new round of parabolic growth, and is expected to repeat the brilliant price trend in 2021 and once again attack historical highs.
If SHIB wants to hit the historical peak of $0.0000885, its price needs to achieve a 270% increase; and once it breaks through this year's high of $0.0000455, it is expected to further climb to $0.0001, which is 316% higher than the current price. This kind of explosive growth is not unique in the currency circle. For example, $PNUT recently achieved an astonishing increase of 210%.
Behind this callback, it is mainly affected by three major factors: first, there is a meteor line reversal signal on the technical level; second, the MVRV indicator exceeds 3, showing that the market is over-bought; third, the market correction As a result, the overall market experienced selling pressure. It is worth noting that if Bitcoin can break through the $100,000 mark again, altcoins such as SHIB are also expected to usher in new rebound opportunities.
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