In the past year, the Shiba Inu (SHIB) market has experienced a series of ups and downs. This meme token has recorded multiple surges, with an increase of nearly 200%. In mid-November, the asset price reached a seven-month high, with a market cap exceeding $17 billion, causing a sensation. Despite losing momentum since then, it has maintained profits each month and is subject to positive predictions.
Shiba Inu's current slump
Like other products in the market, Shiba Inu has also fallen into difficulties. The asset has significantly dropped in the past 24 hours. As of the time of writing, SHIB is trading at $0.00002351, down 10%. Previously, the price had risen 39% over the entire month.
The community has been looking forward to SHIB eliminating the zero in the coming days. However, due to the current price crash, some remain pessimistic. Nevertheless, most of the market seems optimistic about Shiba Inu's price rising soon.
Potential peaks may occur in the future
According to X (formerly Twitter) analyst Javon Marks, SHIB is one of his best positions. The expert pointed out that Shiba Inu has successfully broken through and has risen over 162% since then. While achieving this goal, it has also reacted well to the recent hidden bullish divergence.
Marks noted that this divergence indicates that the price has risen over 75% compared to the peak in 2024. But this may just be a small portion of a rise far exceeding 215%, with hopes of breaking through the first overall target of $0.000081. The analyst added,
"Shiba Inu's 3X and above can load and run quickly."
Although Shiba Inu's future remains uncertain, such predictions bring hope to the market.