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The price of Shiba Inu (SHIB) may increase by up to 300% following a bullish forecast from prominent Bitcoin 
$104,896 analyst PlanC. This optimistic outlook reassures that the significant downturns previously affecting cryptocurrencies are now a thing of the past.
Analyst’s Insights
Crypto analyst PlanC stated that the periods of 80% declines in the crypto markets have ended. He shared this prediction after Bitcoin surpassed the psychological level of $70,000, breaking out of an eight-month consolidation zone.
PlanC’s statement is clear: “I no longer expect a sharp correction of 60-70%,” he says. According to him, it is impossible for Bitcoin to return to levels of $200,000 and then drop back to $40,000. Believing that Bitcoin has yet to reach its peak, PlanC expresses optimism for altcoins like Shiba Inu as well.
Shiba Inu’s Potential for Growth
Referring to Bitcoin’s current price level as “Base Camp,” PlanC indicated that an increase in Bitcoin’s price could positively impact Shiba Inu’s price. Given SHIB’s high correlation with Bitcoin, a similar upward trend is anticipated.
Target Price Levels
Shiba Inu’s price could surpass the $0.0000299 level with a 63% increase. If it breaks this level, it has the potential to reach targets of $0.000045 and $0.000060. However, if SHIB’s price drops below $0.00001200, the anticipated bull market could be invalidated, leading to a price decline.
Short-Term Resistance and Support Levels
Key levels for investors to watch are the upward resistance at $0.000019 and the downward support at $0.000015. With the upcoming U.S. elections, a positive atmosphere in the crypto markets may benefit Bitcoin, Dogecoin 
$0.163257, and Shiba Inu.
In conclusion, analysts’ predictions could play a significant role in determining Shiba Inu’s future price movements.
