With Shiba Inu showing strong rebound ability, an analyst suggests that the meme coin will continue on the path toward its all-time high.
Shiba Inu has participated in the wider market correction, shedding over 22% last week. The recession saw the dog-themed meme coin retest an early November low of around $0.00001853.
Meanwhile, SHIB has rebounded strongly from the zone to trade close to its major demand zone around $0.000022. The asset has surged 24% from the low and now trades at $0.00002312.
As a result, seasoned market analyst Javon Marks insists that Shiba Inu’s bullish momentum remains. In a Christmas Day tweet, he maintained that the meme coin could continue on its path to $0.000081.
Shiba Inu Prints Bullish Signal
Marks stated that Shiba Inu has shown upside potential. He mentioned in his tweet that Shiba Inu’s latest rebound has printed a bullish signal set to spur further price upswings.
Additionally, the market expert stated that Shiba Inu’s path, close to its all-time high of $0.00008854, remains on course. Per the commentary, Marks asserted that the second-largest meme coin will surge over 234% or about 3.33x to $0.0000810.
An accompanying chart shows that Shiba Inu has printed a bullish confirmation after the latest steep. The SHIB/USD 1-day chart shows that the token affirmed the upward momentum with a bullish-engulfed daily close yesterday.
Notably, the analyst did not clearly state when Shiba Inu will hit the new target. However, his “in the cards” remark suggests the meme coin would explode to the price level imminently.
Shiba Inu to $0.000081
Meanwhile, Mark has been specific about Shiba Inu’s push to $0.0000811. He has repeatedly reiterated the prediction, echoing bullish momentum around the Shiba Inu ecosystem.
In October, the seasoned analyst suggested a move to $0.000081 was imminent. Notably, the prediction came before the bullish momentum from Donald Trump’s election win gripped the crypto market.
At the time, Shiba Inu traded at $0.0000178, and a purchase at that rate would have entailed an over 30% portfolio uptick at the current market price. Meanwhile, the meme coin remains 252% away from the $0.000081 target.
However, other analysts share a correlating Shiba Inu price outlook. For context, popular community figure SHIB KNIGHT insists that the token is ready to conquer $0.00008618 and target unprecedented heights.
Furthermore, Charting Guy speculated that SHIB could retest its all-time high. He cited a breakout from a symmetrical triangle, suggesting a surge to $0.00008841.
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Source: https://thecryptobasic.com/2024/12/25/analyst-says-shiba-inu-path-to-0-000081-will-continue/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-says-shiba-inu-path-to-0-000081-will-continue