Expert Predicts 498% Breakout For Shiba Inu (SHIB)

Cryptocurrency analyst Javon Marks believes Shiba Inu (SHIB) could soon see a significant price increase. He recently discussed his observations on X, the former Twitter, pointing out an essential change in SHIB’s price swings. According to Marks, these adjustments may pave the way for a significant bullish breakout. His research suggests that the token’s value may rise. Investors are keeping a tight eye out for indications of this predicted spike.

Jason’s analysis revolves around a Falling Wedge pattern frequently linked to bullish price movements. Over several months, this wedge has developed, and SHIB is now getting close to the point where a breakout might happen. The declining trend indicates that a fundamental price shift could happen soon.

The appearance of a Regular optimistic Divergence on its daily chart contributes to the optimistic view. This happens when the price of an asset continues to fall while an indicator, like the Relative Strength Index (RSI), rises in value. This divergence indicates a weakening downward trend and frequently precedes a bullish rally.

Jeff Marks said this would cause SHIB to break out with a potential target price of $0.000081, a startling 498% increase from current levels.

SHIB Sees Increased Investor Attention

SHIB is currently trading at $0.000013, indicating a 1.10% increase in value over the previous day. As a sign of recovery, prices are rising, with SHIB increasing 30% from its recent low of $0.000010. The open interest has witnessed a notable increase of 14.38%, currently at $28.56 million, indicating a rise in market activity and interest in SHIB futures trading.

Despite these encouraging indications, there has been some volatility in its response trading activity. On the last day, positions worth $152.58K were liquidated; a significant amount of this loss ($151.83K) was attributed to short positions, whereas long positions only accounted for $748.95 of the total loss. Traders anticipating a price drop faced significant losses, indicating a shift in market sentiment towards a more bullish outlook. This change suggests growing optimism about future price increases.

Should SHIB maintain its momentum and perform as anticipated, the cryptocurrency may witness an increase in price and investor activity, potentially establishing itself as a market leader once more.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.