Fun

Shiba Inu Builds Momentum: ‘Monster’ Price Move Coming—Analyst

News Feed - 2025-01-07 10:01:31

Este artículo también está disponible en español.


Shiba Inu (SHIB) appears to be laying the groundwork for a big rally, as market observers focus on a potential vertical surge. The popular meme coin, which has often piqued investor interest, appears to be set for a “monster” climb toward $0.000066651. Related Reading Dogecoin To Hit $1? Expert Calls It A Realistic Goal For 2025 – Here’s Why 2 days ago Positive Trends Amid Market Uncertainty


Shiba Inu’s current pricing behavior indicates a steady rebound in momentum. After weeks of sluggish activity, the token’s upward trend has fueled confidence. Analysts are keeping a careful eye on important technical signs that indicate SHIB may be ready to exit its consolidation phase. Increased trade volumes and strengthened support levels indicate that investor confidence is growing.


Positive mood in the broader crypto landscape supports CoinMarketCap data indicating the coin is gaining more traction. Major developments in Bitcoin and Ethereum have set off a chain reaction that has elevated the appeal of SHIB and other cryptocurrencies.


On X, an analyst identified as “Strong” noted a likely cup-and-handle formation in SHIB’s weekly chart that suggested possible consolidation before to an upward breakthrough. Based on past resistance levels, they estimated a post-breakout goal of $0.000066 suggesting great optimistic possibilities. $SHIB


Shib will do what it does, “slowly then all at once” a monster vertical move


HTF chart looks super bullish:


– a catch up play to $DOGE

– largest erc token on $ETH

– soon a break out of a 4y down trend


A bullish $SHIB is good for risk on crypto


It’s almost time pic.twitter.com/ofzM4fEXhr


— $trong (@StrongHedge) January 5, 2025


Emphasizing SHIB’s ranking as the biggest ERC-20 token on Ethereum, the research also positioned SHIB as a “catch-up play” for Dogecoin. Furthermore, SHIB is apparently approaching a breakout from a four-year declining trend, which supports its attraction to traders expecting a substantial price increase.


Technical Signs Point To A Breakthrough


The likelihood that Shiba Inu will achieve its estimated goal of $0.000066 is determined in part by technical and commercial variables. While the coin has been trading in a long-term symmetrical triangle, it is typically associated with potential bullish breakouts. Prominent experts and other cryptocurrency enthusiasts on social media have emphasized this circumstance as a motivating factor for SHIB’s upcoming actions. SHIB market cap currently at $14.1 billion. Chart: TradingView


Recent studies underlined the need of maintaining important resistance values. Should SHIB keep following its current rising path, holders could find big increases in the next weeks. Moreover, the introduction of Shibarium, Shiba Inu’s Layer-2 solution, has piqued attention on the general value of the ecosystem. Related Reading Bitcoin Target Locked: Metaplanet Eyes 10,000 BTC This Year 23 hours ago Market Mood Improves Shiba Inu Projection


Beyond mere technical concerns, the prevailing attitude in the crypto space supports SHIB’s promise. Social engagement metrics have climbed; Shiba Inu mentions on websites like Twitter have peaked several months ago.


Furthermore, increased speculation about important events in the ecosystem, such as new coin listings and partnerships, has kept the token in the spotlight.


However, analysts warn against being overly optimistic. Shiba Inu price swings, like those of any other speculative asset, are characterized by volatility. Investors should approach this rise with a balanced mindset and keep an eye out for market changes.


At the time of writing, SHIB is trading at $0.000002414, up slightly in the last 24 hours. Whether it can meet its ambitious $0.000066651 aim is determined by a combination of technical and market variables.


Featured image from DogTime, chart from TradingView

News Feed

XRP Price Holds Above $2.47, But Bulls Struggle To Gain Control
Este artículo también está disponible en español. The XRP market experienced a rather turbulent trading week resulting in a net loss of 7.22%. While the altcoin has shown
Zanzibar Government Keen to Get Stakeholders’ View on Cryptocurrencies
Zanzibar Government Keen to Get Stakeholders" View on Cryptocurrencies Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before
Nivesh Rustgi6 hours agoUnibot maintains first-mover status among Telegram crypto trading botsThe Unibot price could be overextended, but notable user base growth and real yields paid to tokenholders are a reflection of
Dogecoin Confirms Daily Trend Reversal With Breakout, Retest And New Uptrend
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Turner Wright6 hours agoFormer SEC chair says spot Bitcoin ETF approval is ‘inevitable’ despite delaysThe commission has another 45 days to approve, deny or delay spot Bitcoin exchange-traded fund applications from s
Ana Paula Pereira11 hours agoCurve Finance opens bounty after exploiter’s return deadline expiresCurve Finance is extending a $1.85 million bug bounty offer to anyone who can identify the exploiter of its stable pools.
Can Bitcoin Hold $97K? – 1-3 Month Holders’ Data Reveals Crucial BTC Demand
Este artículo también está disponible en español. Bitcoin has experienced a quiet weekend, with the price remaining stagnant around the $96,500 level for five consecutive
Joe Biden Claims Inflationary Pressure ‘Rests With the Federal Reserve,’ Praises the Fed’s ‘Extraordinary Support’ 
Joe Biden Claims Inflationary Pressure "Rests With the Federal Reserve," Praises the Fed"s "Extraordinary Support"  On Wednesday, U.S. president Joe Biden explained that the count
Spot Bitcoin ETFs Attract Nearly $1 Billion Inflows, Marks 3-Week Positive Streak- Details
Este artículo también está disponible en español. The US-based spot Bitcoin ETFs has produced another impressive performance in the past week recording nearly $1 billion
$1.35B in Bitcoin options expire this week — Do BTC bulls or bears have the upper hand?
Marcel Pechman4 hours ago$1.35B in Bitcoin options expire this week — Do BTC bulls or bears have the upper hand?This week’s Bitcoin options expiry sits at $1.35 billion, but what is the expected impact on BTC price?5
Point Network Launches Full Web3 Architecture
Point Network Launches Full Web3 Architecture press release PRESS RELEASE. This was the title of a recent talk by Serge Var, CEO and Co-Founder of Point Labs, at the 2022 Web 3.0 Co
Bitcoin Fees Fall 60% While Transaction Count Declines
Bitcoin Fees Fall 60% While Transaction Count DeclinesBitcoin (BTC) average transaction fees dropped by nearly 60% in the last week, as the number of transactions queuing up to be p