Shiba Inu Price Headed for the Moon? Expert Predicts 52% Surge for SHIB Price

Cryptocurrency enthusiasts are keeping a close eye on Shiba Inu (SHIB), the dog-themed digital currency, as it charts its recent performance amidst speculation of a substantial surge. Despite trailing behind some market counterparts in the current uptrend, an expert foresees Shiba Inu making a remarkable 52% leap, potentially reaching $0.00001492.

Here’s what’s new with the meme coin we all love.

Shiba Inu’s Recent Moves

Shiba Inu, while not fully embracing the ongoing market rally, has experienced a notable upswing in prices. A significant milestone was achieved earlier this week when Shiba Inu successfully shed a zero from its price, following a 4% surge on February 15 that propelled the token beyond the $0.00001 threshold.

However, the thrill was short-lived as SHIB dipped below $0.00001, only to currently hover around $0.00000973.

Analyst Predicts a Bullish Future

Renowned crypto expert and Shiba Inu enthusiast, ‘$SHIB KNIGHT,’ took to Twitter to share an optimistic forecast for SHIB’s future. The expert predicts a resurgence past the $0.00001 mark, aiming for $0.00001011, $0.00001193, and $0.00001309, culminating in an ultimate target of $0.00001492 – a robust 52.7% rally from its current value of $0.00000977.

Market Insights: Positive Sentiment and Breakouts

$SHIB KNIGHT supports these predictions by highlighting the prevailing positive sentiment in the market and Shiba Inu’s recent breakout in the weekly charts as catalysts for the anticipated surge.

Furthermore, the analyst points to the significant move of SHIB crossing the 50-day EMA at $0.00000940, a historical precursor to an 80% price increase in October 2023.

The expert emphasizes essential support levels for Shiba Inu at $0.00000953, $0.00000896, and $0.00000880, serving as potential buffers against market fluctuations.

Shiba Price Analysis

Presently, SHIB is actively trading at $0.00000973, indicating a 1.83% decrease in the last 24 hours and placing its market capitalization around US$5.84 billion.

Despite a steep 88.7% decline from its all-time high of $0.00008616 in October 2021, Shiba Inu maintains support above the EMA20 trend line. With the RSI hovering around 65 and the 20-day EMA on an upward trajectory, sellers currently find themselves without a clear advantage in the market.

This Might Interest You: Top 3 New Meme coins to invest for 100x returns in a short time!

So, are you ready to ride the Shiba wave?