Meme coin investors, pay attention! Shiba Inu (SHIB) may be on the verge of a significant breakout, as recent price movements suggest a potential surge. After a period of relative calm, SHIB’s price is now capturing the interest of traders due to its bullish prospects highlighted in technical analyses. According to well-known market analyst Javon Marks, Shiba Inu is gearing up for an impressive 550% increase, driven by a hidden bullish divergence. If this prediction holds true, we could witness a price movement reminiscent of the rally seen in 2021.
Famous Analyst Predicts SHIB Coin Could Rise by 550%!
Prominent crypto analyst Javon Marks has released a compelling analysis regarding Shiba Inu. He forecasts that the SHIB price could soar to $0.000155, indicating a remarkable 550% rally from its current levels. Marks points out that SHIB previously achieved a staggering 900% increase in 2021, following a similar technical pattern, making this prediction all the more intriguing for investors.
Analyst Expects Rally for SHIB Coin!
Marks has identified a hidden bullish divergence, suggesting that selling pressure is diminishing while buying interest is on the rise. If SHIB adheres to this technical framework, it could embark on a bullish trend characterized by progressively higher peaks.
Rising Triangle Formation Supports Bull Run
Currently, Shiba Inu is trading at approximately $0.0000121. Despite experiencing a minor daily pullback of 2%, the underlying technical structure indicates a strengthening momentum. Notably, the formation of a rising triangle on the 4-hour chart could signal an imminent upward breakout in the near future.
The price has consistently tested the horizontal resistance at $0.0000124. The formation of higher lows during this period suggests that buying pressure is intensifying. Should this resistance be breached with substantial trading volume, we could see a rapid acceleration in SHIB’s price.
Strong Technical Signals from RSI and MACD for SHIB Coin Rally
The Relative Strength Index (RSI) currently stands at 48, indicating that the market is in a neutral zone, with a notable reduction in selling pressure. This scenario sets the stage for a potential upward breakout.
Meanwhile, the MACD indicator is flashing positive signals. The histogram bars turning green, along with the upward movement of the MACD line, are shifting momentum in favor of bullish traders. These technical indicators bolster the argument that SHIB could experience a robust recovery in the short term.
SHIB Coin and the Risks Ahead: What Could Happen Before the Bulls Move?
While the technical signals appear promising, certain fundamental factors could exert pressure on the SHIB price. A significant point of concern is the 75% decline in the token burn rate, which could limit the potential for price appreciation by preventing a decrease in supply.
Additionally, the overall market capitalization of the meme coin sector has dropped from $55 billion to $47 billion in the last month. This decline in speculative interest may pose challenges for many coins, including SHIB, in their upward movements.
As Shiba Inu showcases strong technical formations and historical parallels, the critical resistance level for investors will be $0.0000124. A breakout above this level could pave the way for a potential 550% rally. However, it is crucial to remain aware of the associated risks. SHIB is currently positioned at a pivotal threshold, ready to embark on this anticipated bull run!
