Over the past year, the Shiba Inu (SHIB) market has experienced a series of upward and downward trends. This meme token has mostly recorded multiple surges, with an increase of nearly 200%. In mid-November, the asset's price reached a seven-month high, with a market cap exceeding $17 billion, causing a stir. Although the asset has since lost momentum, it still maintains monthly profits and is the subject of positive forecasts.
The current slump of Shiba Inu
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 increased by 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 plunge, some remain pessimistic. Despite this, most of the market seems optimistic about Shiba Inu's price rising soon.
A peak may appear in the future
According to X (formerly Twitter) analyst Javon Marks, SHIB is one of his best positions. This expert pointed out that Shiba Inu has successfully broken through and has since risen over 162%. While achieving this goal, it has also responded well to the recent hidden bullish divergence.
Marks noted that this divergence indicates that the price has risen more than 75% compared to the peak in 2024. However, this may only be a small part of a rise that is far above 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 the future of Shiba Inu remains uncertain, such predictions bring hope to the market.