Shiba Inu (SHIB) Looks Ready to Rise to a New ATH (Analysts)
TL;DR
- The shiba inu has been struggling to keep up with the booming crypto market lately and has recorded a slight price decline in the last seven days.
- Despite this, some analysts are predicting a bull run towards the end of the year, with potential targets as high as $0.00014.
In contrast to the overall market revival over the past few days, popular memecoin Shiba Inu (SHIB) has underperformed. Its price fell 8% weekly, while its market value dropped below $15 billion.
However, some industry participants say the coming months quite a few This successful development for the company that declared itself as the dogecoin killer predicts impressive increases.
X user Mags presented a price chart showing that the value of the meme coin could rise above its all-time high of $0.00014 by September of this year. They too warned He told investors that the current level is “the last chance to buy SHIB before it tops.”
The analyst depicted $0.00002100 as follows: mother The resistance level is considered to be purchased SHIB in early 2024 when the price is around $0.00000950. Their investments have increased by 165% due to the bull run the token has experienced in the last few months.
CryptoYoddha was also bullish, predicting the price to rise to $0.000075 by the end of 2024 (a 200% increase based on current valuation). Analyst thinks SHIB won’t be the only meme coin to thrive in the coming months, envisioning a bright future for pepe (PEPE) and Dogecoin (DOGE).
SHIB Whales on the Move
The asset’s recent price decline comes despite increased activity from major investors. Like CryptoPotato reportedOn June 5, one whale accumulated over 715 billion SHIB, while the other two Purchased a staggering 1.35 trillion tokens.
whale activity seen frequently As a move that could create positive investor sentiment. This development may lead to more people purchasing SHIB and thus a price increase.
On the other hand, if whales decide to sell their assets, this could cause sharp declines. After all, the basic principles of economics state that prices tend to rise when there is scarcity and demand increases, not when there is abundance.
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive a special $600 welcome offer on binance (full details).
LIMITED OFFER 2024 on bydfi Exchange: Welcome reward up to $2,888, use this link to register and open 100 USDT-M positions for free!
#Shiba #Inu #SHIB #Ready #Rise #ATH #Analysts