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Cryptocurrency enthusiasts are optimistic about the near-term rise of Shiba Inu. Recently, Shiba Inu has become a popular meme coin in the crypto market, gaining significant momentum and drawing attention. Particularly in the last few weeks, the price increase of this digital asset has caught the interest of investors and experts alike.
Expectations of a Price Surge for Shiba Inu
Cryptocurrency analyst and investor Rekt Capital predicts a short-term significant price increase for Shiba Inu. Rekt Capital’s analysis shared with the crypto community on social media platform X suggests that Shiba Inu could rise to levels not seen for a long time. The analyst indicates that the digital asset could make substantial progress by overcoming a resistance point.
However, for these optimistic predictions to materialize, Shiba Inu will need to maintain certain levels. The support point marked as the “blue level” will be critical for the asset to continue its upward trend.
According to this analysis, Shiba Inu is expected to reach a price level of $0.000066 in the near future. On the other hand, the analyst emphasizes that Shiba Inu has rejected a certain price resistance and is currently forming a new accumulation range for a potential upward trend. However, this level must function as new support for SHIB to climb to higher levels.
Predictions Appear to be Confirmed
According to Rekt Capital’s forecasts, the predictions about Shiba Inu reaching the blue resistance point seem to be confirmed. It is noted that since last November, SHIB has increased by over 300%. The analyst states that this increase is related to reclaiming the top of the Orange area as support.
According to Santiment’s analysis, Shiba Inu is identified as one of the leading assets ready for a potential recovery. This is particularly true during a period when Bitcoin reaches new highs and assets like Solana experience speculative surges, with other cryptocurrencies also expected to recover.
As of writing this article, SHIB is trading at $0.00003155. SHIB has experienced a 13% decrease in recent days, with its market value and trading volume decreasing accordingly. This indicates that Shiba Inu is struggling with short-term volatility, but it is important to note that its long-term potential still exists.
