Shiba Inu To Break All-Time High Record in Current Cycle, Says Pundit
A market analyst expects Shiba Inu to breach its 2020/2021 all-time high in the current market cycle.
Amid macroeconomic and political tailwinds, the crypto market is awash with excitement, with market participants setting sights on new highs for leading assets.
One influential market commentator has stoked the flames of this anticipation for the leading doggy-themed meme coin, Shiba Inu (SHIB).
Shiba Inu (SHIB) To All-Time Highs?
“CRYPTO SHERIFF” has asserted that SHIB will shatter its all-time high price record of $0.00008616 in the current bull market cycle.
The influencer expressed this view in an X post on Sunday, December 15, contending that the token’s rise was “inevitable.”
The call comes despite SHIB’s consolidation after its stunning November 2024 rally. Following Donald Trump’s election victory heralding what many expect to be a pro-crypto regime in the U.S., the token surged about 98% from $0.00001687 to highs around $0.00003343.
At the time of writing, however, the token has shed some of these gains to trade at the $0.00002694 price point.
Still, CRYPTO SHERIFF is not the only analyst who has recently sounded bullish on SHIB, suggesting strong investor confidence.
SHIB Poised for 1,700% Surge?
On December 10, crypto analyst “CryptoELITES” opined that SHIB could surge to the $0.0004729 price point in the current market cycle, representing a nearly 1,700% increase from current prices.
The analyst shared this outlook, citing a bullish cup and handle pattern the asset appeared to be forming on its weekly candle chart.
The confirmation of this bullish pattern could come if the token decisively breaks above a downtrend line that has acted as a resistance level since October 2021.
Sharing a similar analysis on December 12, another crypto analyst, “PouyanTradeFX,” suggested that failure to break above the downtrend could lead to a 150% decline to the $0.000011 price point.
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