The price of Shiba Inu (SHIB) could rise significantly during the next bull market, according to crypto trader and analyst Javon Marks.
He predicts that this popular memecoin could potentially rise to $0.00015, based on a technical analysis of the SHIB price. The analyst believes that the correction phase is over and that technical indicators point to a possible increase in value of more than 400%.
SHIB will soon reach its All Time High
In his technical analysis he notes Javon Marks that the SHIB price has found strong support at a price of $0.00003 and has broken out of a downtrend. He sees this trend break as a bullish signal for an upcoming price increase.
The crypto analyst sets an initial price target at approximately $0.000081, which represents an upside of approximately 170%. Notably, this price target is close to the coin’s historical peak, which was $0.000086 and was reached in October 2021.
A price increase of 400%?
However, the analyst’s positive outlook doesn’t end there. Marks believes that Shiba Inu will surpass its previous record high. If the coin manages to overcome this important threshold, the price could even rise above $0.00015.
This potential increase represents a significant price increase of approximately 400% from the current price, which could grow Shiba Inu’s market value to approximately $95 billion.
Such a milestone could put Shiba Inu within the top 10 cryptocurrencies. However, the coin can first expect significant resistance around $0.000056 and $0.0001 and $0.00013 price levels.
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Source: https://newsbit.nl/crypto-analist-voorspelt-shiba-inu-koers-gaat-met-400-stijgen/
