Shiba (SHIB) gave good news to its investors: Time to fly!

Shiba Inu (SHIB), which rose by 14.21 percent last month, managed to gain significant momentum.

SHIB, the second largest #memecoin by market value, experienced a significant price recovery in August. SHIB's relatively more moderate outlook compared to market conditions attracted analysts' attention.

Popular crypto analyst Javon Marks predicted a 231 percent recovery and a 480 percent bull run in the #SHIB price. Marks, who made a statement via X, said the following:

“$SHIB (Shiba Inu) prices have recently confirmed multiple bullish formations with the RSI, which could lead to a major recovery of over 231 percent to return to the highs of 2024. This momentum could carry the SHIB price to the $0.000081 target.”

As of writing, #SHIB , which is trading at $0.0000132, has increased by nearly 4 percent since September 4. Stating that the increase in the memecoin price is not enough, AMBCrypto said the following:

Despite the increases, SHIB remains relatively below the $0.00001612 peak it recorded in June. On the other hand, #SHIB is trading 84.52 percent below its highest level of $0.0008616 to date.

In the weekly chart, the popular memecoin was seen to have decreased by 4.41 percent. Analysts have formed bullish expectations for SHIB, which has created a fluctuating chart.

The analysis touched on the following: “As Trader Marks stated, SHIB could increase by nearly 213 percent” and reach a new high of 2024, which would bring $SHIB closer to its ATH.”

“In current market conditions, SHIB is well positioned for further price increases. “If the positive market sentiment continues, SHIB is likely to challenge the $0.00001483 resistance level in the short term. A breakout of the said level will strengthen the #memecoin to attempt the $0.000017 resistance level.”