Bullish signals from Shiba Inu price could lead to a 130% rally to new highs. The crypto expert has observed a trend of rising highs, which supports his prediction of a SHIB price explosion.
Shiba Inu price is preparing for a 130% rally
TradingView expert Kledi Chuni has provided a detailed chart analysis showing the bullish setup of the Shiba Inu price. The daily highs of the Shiba Inu are rising on an oval chart.
Shiba Inu has been facing strong support around $0.00002424 for the past month, according to the expert. This retest of the support level indicates an accumulation zone where buyers are constantly buying to prevent the price from falling.
The analyst has set several upper targets on the price chart as Shiba Inu continues to rise. The dramatic rising slope of the chart indicates that SHIB price may rise parabolically after breaking through key resistance levels.
Chuni expects Shiba Inu to rise 130% to $0.00003232 in the near term. Shiba Inu may reach a second target at $0.00004167, according to the expert.
Chuni expects Shiba Inu to break out to a third target of $0.00005675 if it stays above $0.000041. Finally, the TradingView expert predicts a big jump to $0.00007012, the highest target on the price chart.
These optimistic price predictions would be notable for the Shiba Inu price, but would still be well below the meme coin’s all-time high of $0.000086. This record was set in 2021, when demand for meme coins and their prices skyrocketed.
Shiba Inu is trading at $0.000028 after falling 8% over the past week, according to CoinMarketCap. One of the biggest winners of this bull market is the meme coin, which just rose above $0.00003.
The analyst published a chart on X (formerly Twitter) showing the price of Shiba Inu from May 2022 to the present. If Shiba Inu breaks through $0.00003285, the meme currency could explode to $0.00008852, setting a new ATH, according to the expert.
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