Shiba Inu Price Forecast Points to 35% Upside Potential as Buyers Shatter 50-Day Consolidation

Shiba Inu (SHIB) has recently seen a 13% increase in its price and has broken out of a pattern that suggests a potential change in its downward trend. Currently trading at $0.0000245, some analysts believe that SHIB could reach $0.000028 by the end of the month and potentially even $0.00003285 if this positive momentum continues.

SHIBA is Exhibiting a Pattern Breakout and Increased Demand

The recent surge in the price of Shiba Inu is seen as a possible sign of a turnaround, especially as Bitcoin has also been performing well. There’s a lot of speculation about whether SHIB, which is valued at $14.4 billion, could surpass the $0.000024 mark with increased buying activity.

The increase in SHIB’s price over the past 6 days is indicating a possible end to its downward trend, especially as the broader market is also showing signs of recovery.

The breakout from certain patterns suggests that SHIB’s price could be on the rise, as increased demand may drive its value higher in the near future. Currently, SHIB is trading at $0.0000245, and while it experienced a small intraday loss of 2.1%, it had surged by 1.83% the previous night.

Analysts believe that if the recent positive momentum continues, SHIB could potentially reach $0.000028 by the end of the month and even hit $0.00003285 if things continue in the same direction. However, a correction in the broader market could push SHIB’s price below $0.00002.

Follow us on Twitter, Facebook, Telegram, and Google News

OLAJIDE SAMUEL

Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.

Tags: