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The formation observed on Shiba Inu’s weekly chart suggests a significant price movement could be imminent. Market experts indicate that the upcoming bullish trend following the current consolidation phase may attract considerable attention.
Expert Predictions for Shiba Coin
One analyst noted that the observed compression on the weekly chart points toward an impending price rise. Of course, Bitcoin’s stability will play a crucial role in realizing this potential increase.
$SHIB KNIGHT stated, “The compression in the chart is seen as preparation for a rise. If Bitcoin 
$94,303 maintains its stability, I predict the surge will begin.”
Other experts also assert that there could be significant increases in Shiba Inu’s value. Analyst CryptoElites highlighted that the token currently presents an attractive buying opportunity, suggesting the triangular formation indicates a potential target at the 0.00023 level.
Shiba Coin Forecast
In short-term planning, a slight decline may initially occur. Predictions indicate that the price could drop to 0.00001171 by April 17, 2025.
Following that, prices are expected to reach 0.00001554 on April 18, 0.00002092 on April 19, and 0.00002634 on April 20. These figures could represent returns of approximately 32%, 78%, and 124%, respectively. After the anticipated increase, a temporary correction might occur on April 21. However, analysts caution that such specific predictions often do not materialize, and investors may incur losses if they base their positions solely on these forecasts.
Data indicates that the triangular formation where trend lines converge points to a critical decision point. Coincodex reports that out of the last 30 days, 14 were positive, with volatility around 6.31%. This situation suggests a need for cautious market sentiment.
CryptoElites commented, “We are in a strong buying area, and I believe a significant movement will start soon. It’s essential for investors to closely monitor these developments.”
Given the provided forecasts and observations, investors are advised to closely track current technical indicators. The gathered data reflects that while expectations for potential increases exist, the market’s volatility could also present additional risk factors in investment decisions.
