Shiba Inu Price Poised for a 260% Surge, Say Experts
Market analysts are buzzing with optimism as Shiba Inu’s price shows potential for a remarkable 260% rally in the coming months. After enduring a bearish trend that saw the token drop over 37% from its December highs, the meme-inspired cryptocurrency appears to be positioning itself for a robust comeback.
Adding to this speculation, a whale recently withdrew $4.63 million worth of SHIB from Binance, hinting at a possible price surge amid the token’s consolidation phase.
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Whale Activity Signals Possible Shiba Inu Price Rally
A high-profile Shiba Inu transaction has caught the attention of the crypto community. A previously dormant whale account, inactive for five months, has moved 220 billion SHIB tokens, valued at $4.63 million, out of Binance. This significant activity comes as Shiba Inu struggles to surpass the $0.000025 price level following its holiday season slump.
Blockchain data from IntoTheBlock highlights two key resistance zones currently blocking Shiba Inu’s progress towards $0.00003. The first barrier, located between $0.000023 and $0.000024, is tied to 42,310 wallet addresses collectively holding 60.44 trillion SHIB tokens.
A second, larger sell wall exists between $0.000024 and $0.000030, where 208,010 addresses acquired 70.35 trillion SHIB. These resistance zones have historically led to price pullbacks, creating a hurdle for SHIB’s recovery efforts.
Shiba Inu’s Current Outlook
Shiba Inu’s price has recently stabilized within a narrow range of $0.00002100 to $0.00002300 after a period of volatility. Analysts believe this consolidation phase could serve as a platform for an upward breakout, especially given the token’s recent surge in burn rates and potential recovery in the broader cryptocurrency market.
Technical analysis suggests Shiba Inu has found firm support at the $0.00002 level, which has been critical in preventing further declines. Key indicators like the RSI (currently at 56.81) and MACD point to the potential emergence of bullish momentum, hinting at a possible recovery phase.
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Analyst Foresees 260% Surge in Shiba Inu Price
Renowned crypto analyst Javon Marks has identified promising technical signals in Shiba Inu’s price chart that could indicate a significant rally. Marks notes that the token recently broke a long-term resistance trendline and retested it as support during a pullback. Such behavior often suggests the start of an upward trend.
Marks predicts that Shiba Inu could reach $0.000081 in the short term, representing a staggering 260% gain from its current levels. He also pointed to a hidden bullish divergence in the charts, where the price forms higher lows while momentum indicators display lower lows—suggesting strong underlying support for growth. “Shiba Inu remains above its breakout zone, signaling potential for further gains,” Marks stated.
For Shiba Inu to sustain a bullish rally, it must first break through two major resistance zones. The initial target is $0.00003, a level that has repeatedly triggered selling pressure. If this resistance is overcome, analysts believe the token could climb to $0.000081, followed by a long-term target of $0.000155.
According to Marks, this higher price level, which would mark an unprecedented peak for Shiba Inu, could become a reality if market conditions improve and a broader bullish trend takes hold.
