A prominent market analyst, known as “CRYPTO SHERIFF,” has predicted that Shiba Inu (SHIB) will surpass its all-time high of $0.00008616 during the current market cycle. This assertion has fueled excitement among SHIB supporters, despite the token’s recent consolidation following its significant rally in November 2024, which saw a nearly 100% surge from $0.00001687 to $0.00003343. The price has since retraced to $0.00002694. The bullish outlook is supported by factors such as a pro-crypto political environment, following Donald Trump’s election victory, and a positive market sentiment. Alongside “CRYPTO SHERIFF,” other analysts are similarly optimistic. On December 10, crypto analyst “CryptoELITES” forecasted that SHIB could see a nearly 1,700% surge, potentially reaching $0.0004729, based on a bullish cup and handle pattern forming on the weekly chart. This pattern would confirm a breakout if SHIB can break above the downtrend line that has acted as resistance since October 2021. However, there is also a cautionary perspective, with “PouyanTradeFX” warning that failure to break the downtrend could lead to a 150% decline to $0.000011. Despite this, many investors remain hopeful about SHIB's potential in the current bull market cycle.

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