The #ShibaInu: price chart is displaying a new key technical pattern which suggests that a price rally might be imminent. According to crypto analyst, Javon Marks, this technical pattern called a āHidden Bull Divergenceā indicates a potential 330% climb to new price highs.
SHIBās Positive Reaction To Hidden Bull Divergence
On Tuesday, October 22, Marks took to X (formerly Twitter) to discuss the appearance of a new technical pattern in the Shiba Inu price chart. According to the analyst, Shiba Inu has showcased a Hidden Bull Divergence, a key technical indicator that hints at future price increases for a cryptocurrency despite broader market conditions.
Following the trajectory of this crucial pattern, Marks denotes that $SHIB
may be on the verge of a major price rally. The analyst has maintained a price target around the $0.000081 threshold for Shiba Inu, highlighting that the popular meme coin could see its price jump as high as 330% or 4X soon.
Despite major fluctuations in Shiba Inuās price lately, Marks has remained firm in his bullish outlook for the #memecoinššš . He has revealed that the market was currently at the early stages of this projected price increase, meaning that #SHIBŲ could see its value climb to $0.00008 in 2025.
This timeline is verified through Markās chart which clearly shows the Hidden Bull Divergence in the Shiba Inu price movements. The analyst has also pinpointed an even higher target at around $0.0001553 for SHIB, suggesting that a continuous price rally could see the meme coin giving up a zero and skyrocketing to new all-time highs.
As of writing, the price of Shiba Inu is trading at $.00001775, experiencing a 1% decline in the last 24 hours and another 2.07% decrease over the past week. Despite this obvious down pressure in the Shiba Inu price, Marks remains optimistic that if Shiba Inu can give a positive response to the new Hidden Bull Divergence, then the market should be prepared for a price increase.