Shiba Inu Price Analysis: Potential for New Heights
In the wake of a challenging year, Shiba Inu (SHIB) is poised for a significant upward trajectory. Despite navigating recent market downturns, it continues to emit promising bullish signals. Crypto analyst Javon Marks has identified a key bullish pattern, suggesting that if this trend continues, Shiba Inu could achieve new all-time highs.
The Bullish Divergence Paving the Way for Shiba Inu
According to Marks’ analysis, a notable bullish divergence on the MACD histogram indicates that Shiba Inu is on the verge of a potential reversal. If this reversal materializes, it could lead to substantial price gains, starting with a potential doubling of its current value.
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Breaking Resistance and Establishing New Supports
Initially, if Shiba Inu doubles in price, it would surpass the $0.00002 mark, transforming this resistance into a new support level. Marks projects that the first phase of recovery could yield a 163% increase, enabling the breakout past $0.00003 and setting the stage for further upward movement.
A Journey Towards New Peaks
Completing this initial move could lead to further growth, with the price more than doubling from its current state. The anticipated continuation of bullish momentum is projected to drive a 570% surge, potentially elevating the price beyond $0.000081. Achieving this milestone is crucial for reaching new all-time highs.
Beyond the Unprecedented
Further bullish movement could see Shiba Inu eliminate another zero from its price, targeting the $0.0000155 level. This scenario, unprecedented in its history, signifies an approximate 100% increase from its previous all-time high.
As of now, Shiba Inu remains around $0.0000125, overcoming a recent weekend decline. Data from CoinMarketCap reveals that SHIB continues to witness robust daily trading volumes exceeding $200 million, even as the market experiences fluctuations.
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