Popular dog-themed meme coin Shiba Inu It is currently riding the bullish wave, attracting notable gains following the renewed momentum of the overall cryptocurrency market. This recent upward trend for the Shiba Inu has fueled strong optimism within the community about the potential for a significant uptick in the coming weeks.
Could there be a bull run for the Shiba Inu soon?
After investigating the current price action of the Shiba Inu, market expert and investor Javon Marks has done just that Highlight SHIB is poised for a significant price rise in the coming days as major bullish strength signals emerge for the meme coin.
Javon Marks expects a rise for Gray Due to the strong technical indicators and charts, which can act as catalysts for further upward growth. His prediction is part of a broader trend of the Shiba Inu rising to an all-time high of $0.000086 this market cycle.
After several days of creating a bullish pattern that is expected to increase the price of the memecoin, a market expert claims that SHIB has officially confirmed the bullish pattern. With prices now showing strong indicators Great powerHe stated that SHIB is currently joining the bull show more.
Looking at the emerging key signals, Javon Marks is confident about SHIB’s path to $0.000081 level. As a result, the price of the Shiba Inu may need to increase by an additional 2.79X or 179% from its current value to reach the $0.000081 mark.
Optimism towards SHIB is gradually building again in the cryptocurrency sector. Veteran cryptocurrency analyst and trader, Ali Martinez, did too anticipation The meme currency has risen, leading to increased interest in the Shiba Inu among individual and institutional investors.
Martinez confirmed SHIB’s short-term rise to $0.000037 price level after indicating a bull flag formation on the 1-hour time frame. Although breaking out of a bull flag pattern could result in a move to the above level, Martinez noted that… Same angle The resistance range must cross $0.000025.
SHIB shows similar price performance with Dogecoin
It is worth noting that the expert also has He pointed out Similarities between the price performance of the Shiba Inu and that of Dogecoin, the largest meme coin. Its charts show alignment of trends with historical patterns observed during… Dogecoin rallies.
If his observations are correct, Martinez believes the next potential target to watch out for is $0.00049, suggesting… New all the time for SHIB In the continuous market cycle.
At the time of writing, the Shiba Inu price has fallen to $0.00002844 after a sharp move to $0.000033 on Sunday. This sudden decline indicates a decline of approximately 5% in the past day despite rising investor optimism.
Although SHIB is down 5% today, the meme coin is up over 7% and 61% in the weekly and monthly time frames, respectively. The current price decline did not hamper SHIB’s trading activity, as its trading volume increased by about 37% in the past day.
Featured image from iStock, chart from Tradingview.com
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