Analysis Shows Shiba Inu RSI Projects 231% Rebound

While Shiba Inu has been one of the toughest assets to hold in recent weeks, market watcher Javon Marks claims the time has finally come for the price to rally 231% back to its yearly high.

Shiba Inu’s trajectory over the past month has been less than impressive, with its price consistently trading around $0.000013. Two weeks ago, SHIB offered hope of a return to the bullish trend when it reclaimed $0.0000161, setting a new August high.

However, just three days later, Shiba Inu slid back to $0.000013. Since the start of the new month, the meme coin has hit a low of $0.00001259, although it has since recovered slightly, trading at $0.00001336 at the time of writing.

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Shiba Inu Set to Reclaim 2024 High

Despite this ongoing dismal performance, analyst Marks remains confident in Shiba Inu's price action in the coming weeks. In an updated analysis, he highlighted that SHIB has confirmed multiple bullish patterns on the relative strength index (RSI).

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