Shiba Inu (SHIB) has been showing signs of potential growth, and market analyst Alan Santana has mapped out a path that could see it reach a new all-time high.
He presented his analysis on TradingView amid the persistent market uncertainty. As depicted in the accompanying chart, Shiba Inu has been in a downward trend. This indicates a market correction phase.
This phase followed a massive price spike from late February to early March, which saw SHIB hit $0.000045. Notably, the correction phase features falling prices and can be alarming to some investors. However, according to Santana, this is a normal part of the market cycle and often leads to a period of consolidation.
Shiba Inu Accumulation Phase
The chart points out an “accumulation zone,” a phase where the price of Shiba Inu could move sideways after a downtrend. During this period, the market stabilizes, and trading volume typically decreases as fewer market participants are willing to sell at lower prices.
Santana pointed out that this phase is essential for building a solid base for the next upward movement. In his view, this accumulation phase typically involves a lull in activity and can serve as a preparatory stage for a significant bull market.
He stressed that smart money—seasoned investors and institutions—often accumulates assets quietly during these periods of low prices, waiting for the right moment to capitalize on the next bull run.
The Upcoming Bull Run
For this upcoming bull run, Santana expects a rally that could take Shiba Inu to new heights. He anticipates a breakout from the accumulation zone, where the price will start to form higher highs and higher lows, marking the beginning of a new bull market.
According to the chart, Santana suggests that the upcoming bull market could propel Shiba Inu to a potential ATH of $0.00023179, a staggering 17.5x increase from its current price. He estimates this could happen by 2025, assuming market conditions remain favorable.
The Perfect Shiba Inu Trading Strategy
Santana went on to discuss the psychology of trading. He warned against trading based on excitement or emotional reactions. Instead, he advised investors to approach the market with a calm and strategic mindset.
The analyst pointed out that emotional trading, often driven by fear of missing out (FOMO), can lead to poor decision-making. This could involve buying at high prices or selling prematurely during market dips. He advocated for a disciplined approach.
Santana recommended a buy-and-hold strategy for those looking to capitalize on Shiba Inu’s potential growth. He advised buying during the current accumulation phase and holding onto the investment until the bull market fully materializes.
According to him, the bull market for altcoins like Shiba Inu can last several months, providing ample opportunity for investors to plan their exits and maximize profits. Meanwhile, at press time, SHIB trades for $0.00001397, up 0.21% over the past 24 hours.
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Source: https://thecryptobasic.com/2024/08/31/expert-predicts-timeline-for-shiba-inu-to-hit-new-ath-of-0-00023/?utm_source=rss&utm_medium=rss&utm_campaign=expert-predicts-timeline-for-shiba-inu-to-hit-new-ath-of-0-00023