Shiba Inu (SHIB) is experiencing a minor correction, but analysts remain optimistic about its future.
The price of SHIB plummeted after hitting this new high ($0.00002189) to $0.000015 on October 3. Since then, the token has shown positive trends, rising over $0.000017.
SHIB trades around $0.0000174, down slightly 1.89% in the past day. Despite the recent dip, experts predict that SHIB could surge significantly in the coming days.
The following analysis provides more insights into Shiba Inu’s next possible moves.
Analyst Predicts 351% Surge for Shiba Inu as It Breaks Out of Falling Wedge Pattern
A seasoned analyst, Javon Marks, shared a bold prediction for Shiba Inu (SHIB) via an X post.
$SHIB (Shiba Inu)'s price is starting to return with strength here while continuing to hold broken out of a recently set falling wedge pattern!
Next level can be coming in and it could lead into a massive, >351% move to our larger $0.000081 target… https://t.co/IHj6syyorW pic.twitter.com/ohxvKH5h4G
— JAVON⚡️MARKS (@JavonTM1) October 4, 2024
According to the analyst, SHIB has broken out of a recently set falling wedge pattern, suggesting a potential reversal from the previous downtrend.
The analyst believes that SHIB’s price could surge by more than 351%, targeting the $0.000081 level. Meanwhile, Marks is not the only optimistic analyst about SHIB’s future. Several analysts in the crypto space share a similar outlook.
For instance, an analyst known as Yoddha shared a bullish outlook for SHIB’s price on X. Yoddha believes that SHIB’s price has formed a pattern known as a “triangle” on the chart.
$SHIB pic.twitter.com/YAVXghpqK6
— Yoddha (@CryptoYoddha) October 6, 2024
This pattern typically happens when the price moves within a narrow range, creating a triangular shape. If the price breaks out of this triangle and moves upward, the analyst predicts that SHIB could rise by 130%.
The breakout would signal a solid upward move after consolidation, leading to a potential price rally.
This prediction comes as SHIB’s burn rate rises, further fueling the optimism around the token. According to recent Shibburn data, in the past 24 hours, more than 5.1 million SHIB tokens were destroyed, spiking the burn rate by over 544%.
Burning tokens helps put SHIB’s supply in check, creating scarcity and increasing the potential for higher prices.
Whale Activity in Shiba Inu (SHIB) Increases by 8%, Signaling Potential Price Boost
Shiba Inu (SHIB) has seen a notable increase in large transactions, which could positively impact its price. According to recent data, transactions over $100,000, commonly associated with whales (big investors), have risen by 8% in the last 24 hours.
This surge in whale activity signals growing confidence among large investors in SHIB’s potential. The heightened momentum, alongside other factors like SHIB’s burning rate and bullish chart patterns, could drive SHIB’s value up soon.
SHIB Could Reach $0.0000214 if Key Levels Hold
Shiba Inu (SHIB) has been showing mixed market signals, with bullish and bearish factors at play. Currently, SHIB is moving within a bearish channel, suggesting it might struggle in the short term unless a key support level holds strong.
However, traders still have hope, as a bullish trendline may offer a potential rebound opportunity. The bullish trendline has remained unbroken since September 18. The price has tested this trendline several times, each time acting as a reliable support level.
If SHIB can once again rebound off this trendline, it could trigger a move upward.
Looking at the technical indicators, the MACD is below its signal line with red histogram bars. This indicates that the short-term momentum is still leaning towards the downside.
However, this could change if the price bounces off the bullish trendline and pushes above the bearish channel.
The RSI, on the other hand, is sitting at 50, indicating that the market is at a neutral level. This suggests it could still go either way, depending on the price action around the critical trendline.
For SHIB to ignite bullish momentum, it will need to break above the middle Bollinger Band line. If Shiba Inu rebounds from the bullish trendline, it could fuel buying pressure and push prices toward $0.0000214. However, failure to hold these levels could mean more downside ahead.
Flockerz Presale: A New Contender Set to Rival SHIB’s Popularity
Flockerz ($FLOCK) is quickly becoming the talk of the crypto community, positioning itself as a viable alternative to popular meme coins like Shiba Inu.
The project has already raised over $531,000 in just a few days. Its innovative features and investor-friendly mechanisms could make it the next big crypto.
Flockerz’s Standout Features
One of Flockerz’s standout features is the Vote-to-Earn system, which puts the community in control of the project’s major decisions.
Unlike traditional cryptocurrencies, where a select few make decisions, every Flockerz token holder has a voice. They can vote on critical issues and earn rewards for doing so.
Flockerz’s impressive staking rewards also increase its allure to investors. The project offers staking rewards of up to 3482% p/a, with 684.93 $FLOCK tokens rewarded per ETH block. Over 51.6 million tokens have already been locked in the project’s staking platform, showing strong interest.
Each $FLOCK token trades at 0.005724 USD, an affordable entry point for early investors.
However, given Flockerz’s rising popularity and features, this price is expected to increase soon. Flockerz has also gained recognition from several well-known crypto platforms, further boosting its reputation.
If you’re looking for a high-stakes project with impressive returns, Flockerz might be the alternative you’ve been searching for. To get involved in the Flockerz presale, visit the official presale page and follow the steps provided.
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Rida Fatima Crypto Journalist 
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