Analyst Predicts Shiba Inu Prcie Will Rally 608%, Here’s When

Although the Shiba Inu has remained the second largest meme by market cap, its recent price performance has left much to be desired. The meme failed to make a new all-time high this cycle, with the price down more than 88% from its all-time highs as of 2021. However, even this poor performance has not eroded the bullish sentiment surrounding the token, with one analyst predicting that the Shiba Inu price still has more to offer.

Consolidation will end, and the price of the Shiba Inu will rise

Over the past few months, the price of the Shiba Inu has fallen in a consolidating trend that has become stronger with uncertain market headwinds. This resulted in the price trading in a very tight range during this time, holding between $0.000009 and $0.000013 with no major breakout in sight.

As with any consolidation trend, this time is seen as a good time to get into the meme coin Start buying at a discount. However, this also depends entirely on how long the consolidation is expected to last before a breakout occurs, which will determine whether accumulation is a good option or not.

According to cryptocurrency analyst MMBTtrader, this current consolidation may represent a good opportunity to enter. So far, the Shiba Inu price has seen a continued dominance of low volatility, and momentum has remained weak. Historically, during quiet times like these, it was… Best entries and trades Made.

Furthermore, a cryptanalyst He pointed out That the Shiba Inu’s consolidation and accumulation phase may actually be coming to an end. Right now, the only thing left is the catalyst that would trigger the next wave of the uptrend. This could be in the form of bullish news or a technical boost. In both cases, the result is expected to be the same.

Shooting for new yearly highs

In the event of a hack, the cryptocurrency analyst expects The price of the Shiba Inu has seen a significant and sharp rise. Multiple targets have been set for the meme coin, but all with a triple-digit rise. The first one is a 200% breakout to the $0.00003364 level.

Next on the list is a 402% price increase. Push the Shiba Inu price to $0.00005480. While the ultimate goal is a 608% increase to push it above the $0.000075 level. While none of this puts it above its previous all-time highs, it does send it very close. As for the time frame for the completion of this hack, the cryptocurrency analyst places it between 2026 and 2027, that is, more than a year before its completion.

Featured image from Dall.E, chart from Tradingview.com

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