Shiba Inu (SHIB), the dog-themed cryptocurrency, has demonstrated resilience in the face of recent market volatility. According to market analyst Javon Marks, SHIB’s strong rebound positions it to continue its upward trajectory, potentially reaching $0.000081.
Shiba Inu Rebounds After Significant Drop
Following a market-wide correction, Shiba Inu lost over 20% in value last week, touching a low of $0.00001853—a level last seen in early November. Despite this downturn, the cryptocurrency quickly regained momentum. SHIB has since rebounded and is currently trading at $0.00002271.
This recovery has reinforced bullish sentiment among analysts, with Marks identifying the recent price action as a key indicator of further potential growth.
Bullish Signals Emerge
In a Christmas Day tweet, Marks pointed out that Shiba Inu’s latest rebound has triggered a bullish signal that could drive further price gains. “Shiba Inu’s path close to its all-time high of $0.00008854 remains on course,” Marks stated. He predicts the cryptocurrency will experience a 234% surge to $0.000081, equivalent to a 3.33x price increase from current levels.
$SHIB (Shiba Inu) adds bullish signals and the road to $0.000081 is looking like it will continue!
A more than 3.33X in an over 234% climb for Shiba is in the cards… https://t.co/UmANSZqJam pic.twitter.com/ceBWBw6ypv
— JAVON
MARKS (@JavonTM1) December 24, 2024
Marks’ accompanying analysis highlights a bullish confirmation on the SHIB/USD daily chart, marked by a bullish engulfing candle. This pattern is often regarded as a strong indicator of potential upward momentum in technical analysis.
While Marks did not specify an exact timeline for SHIB to reach $0.000081, his remark that the price target is “in the cards” suggests that the rally could occur sooner rather than later.
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Historical Context and Broader Predictions
Marks’ latest forecast aligns with his previous bullish outlooks on Shiba Inu. In October, he suggested that SHIB was poised to rise to $0.000081, a prediction made when the token was trading at $0.0000178. Investors who purchased at that level have already seen a portfolio gain of over 30% at current prices.
Other analysts have echoed Marks’ optimism regarding SHIB’s price trajectory. For instance, SHIB KNIGHT, a prominent figure within the community, maintains that the token is ready to surpass $0.00008618 and potentially achieve even higher milestones. Similarly, technical analyst Charting Guy highlighted a breakout from a symmetrical triangle pattern, signaling a potential retest of SHIB’s all-time high of $0.00008854.
Outlook for Shiba Inu (SHIB)
While Shiba Inu remains over 250% below its target price of $0.000081, analysts are optimistic about its potential to bridge the gap. The cryptocurrency’s ability to rebound sharply from recent lows and sustain positive momentum supports the argument for continued growth.
As the second-largest meme coin, Shiba Inu’s performance remains closely watched by the crypto community. With a growing base of supporters and strong technical signals, SHIB may indeed be on the path to significant price milestones in the near future.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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