Gushiken Yona
Shiba Inu (SHIB) is teetering on the edge of a massive 55% price breakout, as technical patterns signal a potential surge to $0.000037—if the token can conquer the crucial $0.000025 resistance level, according to a recent forecast.
Technical and on-chain analyst Ali Martinez shared to his over 85,000 followers on Thursday a new forecast on the price of Shiba Inu, highlighting the potential double-digit surge of around 55% from the token’s current price should it breakthrough the $0.000025 resistance. The core of Martinez’s prediction centers on a technical pattern known as a “bull flag.”
This pattern, clearly visible on the chart he shared, consists of a sharp upward price movement (the “flagpole”), followed by a period of consolidation within a descending channel (the “flag”). The descending channel represents a temporary pause in the upward momentum, often characterized by lower trading volume.
The chart that accompanied his X post shows a clear, well-defined flag, extending from the peak of the initial price surge. The angled lines of the descending channel visually represent the temporary consolidation, suggesting to the analyst that the bullish momentum is not yet spent.
Beyond the technical setup, on-chain metrics suggest growing confidence in SHIB. Whale activity has increased, with large holders accumulating tokens during the recent consolidation. Additionally, heightened wallet activity reflects renewed interest in SHIB, as its ecosystem continues to expand with developments like Shibarium and DeFi integrations.
Shiba Inu Price Action
As of 7:02 a.m. ET on Thursday, Shiba Inu (SHIB) is trading at $0.000024, reflecting a nuanced market trajectory. Over the past 24 hours, the token has declined by 3.38%, contributing to a broader 7-day downturn of 6.80%. However, on a more optimistic note, Shiba Inu has gained an impressive 31.48% over the past month, showcasing its ability to rebound and attract investor interest despite short-term volatility.
The token’s 24-hour trading volume stands at a substantial $1,129,879,161, underlining strong market activity and liquidity. With a market capitalization of $13,989,454,968, Shiba Inu remains one of the top-performing meme coins, backed by a circulating supply of 589.26 trillion SHIB coins, according to recent data from CoinMarketCap.
Shiba Inu’s price movement reflects a volatile yet potentially rewarding landscape. Short-term losses are evident, but the token’s 31.48% monthly increase signals underlying strength in the market. Adding to its appeal is the overwhelmingly positive sentiment within its community. A recent sentiment analysis shows 89% of investors are bullish on SHIB, with only 11% expressing bearish views.
Read More
- Shiba Inu $2.5 Billion Secret: A Single Whale Reportedly Controls 10% of the Supply
- Shib Games Drops Game-Changing Announcement—Play to Win!
- Trump Just Put Shiba Inu on Everyone’s Radar: What Happens Next?
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.
