Double Shiba Inu? Analyst predicts 200% price increase
Shiba Inu (SHIB), a dog-themed cryptocurrency, appreciated 8.18% in the previous week while Bitcoin regained $69,000 on Friday. Analysts anticipate this meme currency will rise higher.
Analyst predicts 200% Shiba Inu growth
Shiba Inu is expected to rise 200% to $0.000038, according to crypto expert MMBTtrader. According to him, the SHIB has gained 75% from the $0.000011 price chart support level. In early August and September, the cryptocurrency rebounded from the demand zone, accelerated, and settled around $0.000019.
SHIB expects more than $0.00003852 consolidation. Indeed, he predicts the higher highs and higher lows pattern to correct the first push to May's highs at $0.000028 to September's highs at $0.000021. If those levels hold, meme coin might reach $0.00003852.
The SHIB market cap is $11.046 billion. TradingView chart
Opposing views: Poor SwallowPremium Outlook
MMBTtrader is positive on Shiba Inu, while SwallowPremium is more cautious. He expects the coin to rise to $0.0000216 and then fall 35% to $0.000014075. His research suggests that a decline below $0.0000195 would initiate the downtrend, making it a suitable moment to short.
Premium warns that if SHIB breaks over $0.0000216, a negative view might be invalidated, propelling the price significantly higher.
Price Path Forward for Shiba Inu
Shiba Inu trades at $0.00001925, about 11% below $0.0000216 barrier. Different market gurus foresee different SHIB paths. MMBTtrader expects a 100% rise based on a belief in an upward trend. SwallowPremium cautions and corrects using a ‘critic’ approach.
Breaking major resistance levels and sustaining momentum will determine Shiba Inu's price movement. As SHIB approaches key price areas, traders will look for breakouts. Coming weeks will determine whether it can ascend or be rejected again.
