A significant increase in Shiba Inu's price has been predicted. A well-known analyst noted that SHIB's current price may represent the lowest price in the coming days. According to this analysis, an exciting phase for Shiba Inu investors is approaching as the final phase of the bull market nears.
Positive price predictions from analysts
As of October 28, SHIB is trading at $0.00001690, reflecting a decrease of 0.7%. The coin faced resistance at $0.00001924 last week, experiencing a decline of 12.2%. However, analysts believe Shiba Inu could increase in value by 100% in the near future, maintaining investor interest.
A notable reverse head and shoulders pattern in the price chart of SHIB. The 'neckline' of this pattern is near the $0.000019 level. Breaking this resistance level could signal a price increase of up to 100%, potentially reaching an annual peak. Analyst Oscar Ramos has warned his followers, stating that 'an explosion is imminent', suggesting SHIB is preparing for a significant price move.
Support and resistance levels
Technical analysis indicates that breaking the $0.000019 level could lift the price to $0.000029 and $0.000045. Key support points are identified at $0.00001620 and $0.00001294. The rise of Dogecoin in the market is also seen as a positive signal for SHIB. Experts are considering the potential for SHIB to increase in value by up to 100%.
