Shiba Inu Poised for a 500% Surge? Analyst's Insight.
Shiba Inu, known as the "Dogecoin Killer," is expected to see a significant price rise. Market analyst Ashish predicts a 500% increase, potentially bringing the cryptocurrency to $0.000075.
Ashish anticipates a bullish rebound after nearly two years of consolidation. In December 2023, Shiba Inu broke a key resistance trendline, sparking a 370% rise to $0.000045 by early March 2024. However, after a pullback, Ashish identified buying zones at $0.000022 and $0.000025.
A bullish flag formation on the 1-hour chart indicates potential stabilization before another upward move. Despite a recent price dip, Shiba Inu shows growth potential with a daily RSI around 48, suggesting it is neither overbought nor oversold.
Ashish's forecast projects a 220% increase, reaching $0.00008089 by June 24, 2024. CoinCodex's indicators remain neutral, while the Fear & Greed Index at 76 indicates Extreme Greed. Shiba Inu has experienced 12 green days (40%) and 4.40% volatility in the past 30 days.
These metrics highlight investor interest, but the Extreme Greed rating suggests caution due to possible rapid sentiment changes. Moderate volatility and frequent green days suggest potential for unpredictable growth, making Shiba Inu an asset to watch in the coming months.
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