Explosive growth for Shiba Inu: Analyst predicts 200% increase

Shiba Inu (SHIB) is attracting increasing attention due to its strong performance and growth potential as 2024 draws to a close. Technical indicators show that the memecoin may be preparing for a major price rally, raising high expectations among investors and crypto enthusiasts.

Positive signs for Shiba Inu

Crypto analyst Javon Marks emphasized on X that SHIB’s value could rise sharply. SHIB has already grown 162% in recent months, and Marks believes this momentum can continue. An important factor supporting this is a so-called Hidden Bullish Divergence. This technical pattern shows that an upward price movement can occur despite a consolidation phase.

While the price of SHIB is making lower lows, the Relative Strength Index (RSI) is making higher lows. This indicates increasing buying pressure, which is a strong signal of an ongoing bullish trend.

SHIB has experienced significant price movements in recent weeks. The stock rose 3.35% in the past week and 54% in the past month. This shows that the memecoin is building a lot of momentum. At the same time, SHIB remains volatile: over the past six months the price has fallen by 4.08%, highlighting the importance of vigilance.

Analysts warn that short-term profit-taking could temporarily slow SHIB’s upward movement. Still, the growth of the SHIB ecosystem and the strong community behind the coin provides a solid foundation for further growth.

Key price points to keep an eye on

Some crucial price levels are important for investors. Experts point to $0.000081 as a key resistance. If this level is broken, the price could rise by as much as 215%. In the short term, a move to $0.00000900 is possible, provided SHIB manages to hold the support at $0.00000850.

For long-term investors, data from CoinCheckup predicts a 102% increase over the next six months, followed by a 92% increase the following year. Technical signals point to a possible breakout and robust long-term prospects, making Shiba Inu appear poised for a new phase of growth.

With strong indicators and a growing ecosystem, SHIB offers interesting opportunities for investors who want to benefit from the next big step in the development of the memecoin.

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