Shiba Inu Makes Monumental Comeback, “SHIB Will Be Huge,” Says Crypto Analyst

Shiba Inu (SHIB), the meme coin with a penchant for defying expectations, is roaring back to life. A recent surge in price, coupled with a bullish technical breakout and enthusiastic pronouncements from a prominent crypto analyst, has ignited hopes of a monumental comeback.

Technical Indicators Signal SHIB Bullish Momentum

“SHIB will be huge,” declared Crypto Sheriff, a respected voice in the crypto community, hinting at the potential for significant gains in the near future. He also shared a screenshot of the Shiba Inu chart, loaded with all the juicy technical indicators.

An analysis of the SHIB/USDT chart reveals compelling evidence of a resurgence. The Shiba Inu price, currently at $0.00001436, has registered an impressive daily increase of +9.20%. This surge is not an isolated incident but rather part of a broader trend supported by several technical indicators.

The chart displays a bullish crossover of moving averages, with the short-term MA7 ($0.00001367) surpassing the longer-term MA25 ($0.00001191) and MA9 ($0.00001277). This configuration suggests that recent price movements are gaining strength and upward momentum. Furthermore, the current price is trading above these key moving averages, reinforcing the bullish sentiment.

Adding to the positive outlook is the substantial 24-hour trading volume of 3.75 Trillion SHIB, equivalent to $52.17 million. This high volume, coupled with the price increase, indicates strong buying pressure and confirms the strength of the ongoing uptrend.

Crypto Analyst’s Enthusiasm Fuels SHIB Bullish Expectations

Crypto Sheriff’s enthusiastic tweet, exclaiming “Here’s another comeback!” and “LFG!,” reflected a strong conviction in SHIB’s potential for significant gains. This bullish outlook, shared with a large and engaged audience, could influence other traders and investors, contributing to the momentum needed for Shiba Inu to reach new heights.

While the cryptocurrency market is inherently volatile and unpredictable, the current technical indicators, positive market sentiment, and enthusiastic endorsements from prominent analysts suggest that Shiba Inu is poised for a remarkable comeback. The road ahead may not be without its bumps, but for those willing to embrace the inherent risks, the potential rewards could be substantial.

Price and Market Performance

Shiba Inu experienced a significant surge on Thursday. As of 4:47 p.m. ET, SHIB was trading at $0.00001422, with a 24-hour trading volume of $260,802,978 (up 70.41%).

Over the past day, Shiba Inu’s price increased by 5.93%. This positive trend continued over the week, with a 6.25% surge in the last seven days and a 3.21% increase in the past month.

According to data from CoinMarketCap, the current circulating supply of Shiba Inu remains at 589,269,506,655,882 SHIB. The market capitalization for Shiba Inu rose by 5.93 % to $8,356,212,782.

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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