Shiba Inu Price Explosion Imminent? Crypto Analyst Predicts ‘Full Bull’ Run After Summer Lull

June 12, 2024

Shiba Inu, the world’s second-largest meme coin by market capitalization, is reportedly poised for a significant surge in value, according to a bullish prediction by a crypto advisor.

The forecast has ignited excitement among the Shiba Inu community, sparking discussions about the potential for a “full bull run” in the near future.

In a recent post, shared on Twitter (now rebranded as X), the self-proclaimed “crypto advisor” who uses the handle @Coachkcrypto, drew parallels between SHIB’s current market behavior and its past performance. They noted that after an initial surge following its July 2020 launch, SHIB experienced a period of consolidation before a massive rally from September to April.

The analyst contends that the current market conditions mirror this pre-rally phase, suggesting that a similar surge could be on the horizon.

“We’re at the exact timing, summer before the real BULL!” the analyst tweeted, urging followers to “touch grass” and spend time with loved ones before the anticipated price surge. FULL BULL IS COMING SOON,” the X post read.

The post references a historical price pattern of Shiba Inu, noting that it saw a significant rise in value shortly after its launch, followed by a period of consolidation, and then another strong rally from September to April. The crypto trader noted that Shiba Inu is currently in a similar phase as it was last summer, before the major rally. This suggests that the token may be experiencing a temporary lull in price action before another potential surge.

While @Coachcrypto’s prediction resonated with many in the Shiba Inu community, it’s crucial to remember that market movements are never guaranteed. 

As of 8:18 p.m. ET on Tuesday, Shiba Inu was trading at $0.00002159, reflecting a 5.62% dip over the past 24 hours and an 11.81% decline over the past seven days. Despite these recent fluctuations, the coin’s 24-hour trading volume surged by 54.73%, reaching $830,528,101. Its market capitalization stood at $12,745,518,936 with a circulating supply of 589,271,539,344,762 SHIB, as per CoinMarketCap data.

Disclaimer: Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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