The crypto market has witnessed a renewed buying interest as the new year shows Bitcoin sustainability above $92,000. The BTC price reversal triggers the bottom formation of several altcoins, including SHIB. Top Analysts foresee a 260% rally in their Shiba Inu price prediction with key breakout and whale buying.
Currently, the SHIB price trades at $0.00002275 with an intraday gain of 4.9%. According to Coingecko data, the asset market cap is at $13.3 Billion, while the 24-hour trading volume is at $605.5 Million.
Key Highlights:
- SHIB price holding a $0.00002 breakout with an evident bullish divergence in the RSI indicator.
- A dormant whale accumulated SHIB tokens with $4.63 Million, boosting market sentiment.
- Shiba Inu price prediction targets $0.000081 after sustaining key support amid renewed buying pressure
Shiba Inu Price Prediction: Analyst Highlights Textbook Bull Signal
In a recent tweet, crypto analyst Javon Marks highlights the SHIB coin gaining momentum with a significant breakout and strong bullish signals on lower timeframes. His Shiba Inu price prediction showcases a fresh higher low formation in the 6-day chart, with a lower low formation in the relative strength index (RSI) indicator.
This displays a classic continuation pattern called bullish divergence, indicating the buying sustaining a higher price level despite the sellers’ pressure shown in low RSI value. Marks notes that SHIB buyers are holding a key breakout of $0.00002, maintaining a target of $0.000081, representing a potential 264% rally.
Renewed Whale Interest Signals Possible Reversal
According to Lookonchain, a dormant whale address withdrew 220 billion Shiba Inu tokens (SHIB), valued at $4.63 million, from Binance after being inactive for five months. The renewed whale interest with Shiba in prediction sustaining key breakout indicates a possibility for a sustained reversal ahead.
On a contrary note, a bearish breakdown below $0.00002 could invalidate the bullish thesis and bolster a prolonged correction.
Also Read: Bitcoin Tests 1.6x Golden Ratio Multiplier Resistance
Source: https://www.cryptonewsz.com/shiba-inu-price-prediction-analyst-260/