Shiba Inu on the Verge of a Major 231% Price Surge, Expert Predicts
Over the past few weeks, Shiba Inu has been one of the most challenging assets to hold, but market analyst Javon Marks believes that a massive 231% rally is finally on the horizon, potentially pushing it to its highest level this year.
Shiba Inu’s performance over the past month has been disappointing, with the coin trading consistently below expectations. Two weeks ago, hopes for a bullish comeback emerged when Shiba Inu reclaimed the $0.0000161 mark, setting a new high for August. However, just three days later, the price dropped to $0.000013. Since the start of this month, the meme coin hit a low of $0.00001259, but has since recovered slightly, trading at $0.00001336 at the time of writing.
Shiba Inu Poised for a 2024 Comeback
According to Marks, Shiba Inu has shown multiple bullish patterns on the Relative Strength Index (RSI), signaling that the asset is gearing up for a significant recovery. Despite its lackluster performance in recent weeks, Marks remains optimistic about the coin’s price movement in the coming weeks.
In his view, the RSI suggests a potential price surge of over 231%, which could drive Shiba Inu back to its yearly highs in 2024. Notably, the coin last reached its peak earlier in March, marking its highest value in three years. The rally, which occurred just 10 days after the bullish trend began, took many investors by surprise.
Aiming for a $0.000081 Target
Marks also pointed out that the potential recovery in 2024 is just the beginning. He believes Shiba Inu’s next major price target is $0.000081, a key milestone in its upward journey. Reaching this level would represent a 480% increase for those who bought the coin at its recent lows.
Read more How Shiba Inu Could Skyrocket with Bitcoin at $777k and Ethereum at $100k
Furthermore, if Shiba Inu hits this target, it would come within just 9.2% of breaking its all-time high of $0.00008845. Marks’ long-term forecast for the coin is even more ambitious, predicting a peak of $0.00015 this season, which would eliminate a zero and push Shiba Inu to unprecedented price levels.
This optimistic outlook could attract more investors as the cryptocurrency market braces for what could be a major rebound for Shiba Inu.
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