While Shiba Inu has been one of the most painful assets to hold in recent weeks, market watcher Javon Marks asserts the time has finally come for a 231% surge back to the yearly high.
Shiba Inu’s trajectory over the last month has been underwhelming, as it has traded consistently around $0.000013. Two weeks ago, SHIB gave hopes of a bull comeback when it reclaimed $0.0000161, setting a fresh high for August.
However, just three days later, Shiba Inu slipped back to $0.000013. Since the start of the new month, the meme coin has already hit a low of $0.00001259, though it has since rebounded slightly, trading at $0.00001336 at the time of writing.
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Shiba Inu Set to Reclaim 2024 High
Despite this ongoing lackluster performance, analyst Marks remains confident in Shiba Inu’s price action for the coming weeks. In an updated analysis, he highlighted that SHIB has confirmed multiple bullish patterns on the relative strength index (RSI).
