Gushiken Yona
Shiba Inu (SHIB) is currently ablaze, experiencing a price surge of over 100% since breaking out of a previous resistance trend. This impressive performance has not gone unnoticed by crypto analysts, with one prominent trader predicting a potential 294% upside for the meme coin.
Shiba Inu (SHIB), the second-largest dog-themed cryptocurrency by market capitalization, is currently experiencing a decline alongside a broader downturn in the cryptocurrency market. However, despite the current downtrend, an analysis of SHIB’s price history reveals that it has increased by over 100% since breaking through a significant resistance level.
The latest analysis by prominent crypto trader @JavonTM1 revealed an optimistic forecast for Shiba Inu ($SHIB). He noted, “$SHIB (Shiba Inu)’s price is still up over 100% since breaking out of the displayed resisting trend which can be letting us know that a RUN is IN-EFFECT! With prices being broken out, the target is at $0.000081, meaning another +294% upside from here to reach it can take place and the recent pullback may only be contributing to a break above.”
According to @JavonTM1, Shiba Inu’s current price movements indicated a robust upward trajectory. The analyst’s insights suggested that the recent pullback could be a strategic entry point for investors, potentially leading to substantial gains as the token aimed for a target price of $0.000081. This prediction implied a significant increase from its current levels, marking a possible 294% upside.
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For Shiba Inu holders, this analysis offered a glimmer of hope. The projected price increase, if realized, could mean substantial returns for those who invested during the recent dip. It underscored the importance of understanding market trends and leveraging strategic opportunities in the volatile world of cryptocurrency.
At 12:59 a.m. ET on Tuesday, Shiba Inu experienced a dramatic surge in trading volume, reaching $603,475,407 within a 24-hour period, representing a 208.39% increase. However, despite the increased trading activity, the meme coin’s price dipped 11.28% in the past 24 hours, with further declines of 19.42% over the last seven days and 27.05% in the past 30 days, bringing its value to $0.00001818.
According to the latest data from CoinMarketCap, Shiba Inu’s circulating supply currently stands at 589,271,366,708,464 SHIB, with a market capitalization of $10,716,961,252. These figures highlight the significant volatility and potential risks associated with investing in this popular cryptocurrency.
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YONA GUSHIKEN
Yona brings a decade of experience covering gaming, tech, and blockchain news. As one of the few women in crypto journalism, her mission is to demystify complex technical subjects for a wider audience. Her work blends professional insight with engaging narratives, aiming to educate and entertain.
