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Crypto Analyst Predicts 450% Move For Shiba Inu To Reach New All-Time High

Scott Matherson
Scott Matherson
Last Updated: July 18, 2024 3:30 am
3 mins read
Shiba Inu

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A crypto analyst has shared his optimistic projections for the popular dog-themed meme coin Shiba Inu (SHIB). According to the analyst, Shiba Inu is set for a massive 450% rally to reach new All-Time Highs (ATH). 

Shiba Inu Aims For 450% Surge To New Highs

In a recent X (formerly Twitter) post, crypto analyst, Javon Marks expressed bullish optimism about Shiba Inu’s future price outlook. The analyst has forecasted that Shiba Inu is preparing for a 450% surge to new all-time highs this bullish season. 

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Highlighting SHIB’s past performances, Marks revealed that Shiba Inu has shown incredible progress after breaking out of similar patterns observed in the previous bull run. At the time, the popular meme coin surged as high as 400%, moving from approximately $0.000009079 to $0.00004559.

The crypto analyst predicts that Shiba Inu could witness another substantial increase of around 351%, moving from this bullish area to break out of a new price target of $0.0000886. He indicated that this surge to $0.0000886 would represent a new all-time high for SHIB, surpassing its current ATH of $0.00008616, recorded in October 2021. 

 

Shiba Inu 1
Source: X

Sharing a SHIB/USDT price chart depicting Shiba Inu’s historical price movements from 2021 to 2026, Marks suggested that the popular meme coin mimicking a pattern from the 2021 bull run, potentially signaling a massive increase of 930.20% that could propel the price of SHIB to $0.00008063.

Shiba Inu 2
Source: X

In a previous post, Marks also maintained his bullish optimism for Shiba Inu. He revealed that despite its sluggish performance recently, Shiba Inu’s 3D prices are holding on to this key pattern that could trigger another massive rally, potentially propelling the cryptocurrency up by 855% to new all-time highs. 

Looking ahead, Marks suggests that Shiba Inu’s bullish projection is further confirmed by the “Hidden Bullish Divergence” between the meme coin’s price and the Relative Strength Index (RSI). The analyst asserts that this divergence validates the underlying strength behind SHIB’s price, indicating the continuation of its already impressive uptrend. 

SHIB Price Fundamentals Remain Strong

In the past few weeks, Shiba Inu has witnessed a significant change in its price performance, shifting towards a more bullish position and indicating strong fundamentals. In June, Shiba Inu and various other meme coins witnessed an unexpected price crash, experiencing double-digit declines as the demand for meme coins in the market began to wane. 

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However, now, Shiba Inu is in an uptrend, recording a significant increase of approximately 16.46% in just one week. As of writing, the cryptocurrency’s price is trading at $0.0001944, steadily increasing to reach the $0.00002 price mark. 

In the last 24 hours, Shiba Inu has continued its upward trend, witnessing a 3.61% increase in its value, according to CoinMarketCap. A crypto analyst identified as ‘SHIB Knight’ on X has also highlighted Shiba Inu’s recent positive performance and price reversal, predicting that the cryptocurrency could pump to $0.00005 after a breakout confirmation. 

Shiba Inu price chart from Tradingview.com
SHIB price rises toward $0.00002 | Source: SHIBUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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