Market Analyst Claims Shiba Inu Could Surge Over 2000% Within This Timeline
Despite a spirited resurgence earlier this month and a brief period of consolidation, Shiba Inu (SHIB) could be on the brink of an even bigger rally.
In a YouTube analysis shared on Tuesday, prominent Shiba Inu community commentator Austin Hilton projected a potential surge for SHIB to the $0.00075 price range by early 2025. Notably, the pundit attributed this bullish outlook to several factors, including predictable market cycles and increasing investor interest in the crypto space. He explained that the typical market sequence sees Bitcoin leading the charge, followed by Ethereum, altcoins, and ultimately meme coins like SHIB.
Theres a clear pattern in how capital flows within the market, Hilton explained. SHIBs potential for a 2000% rally is there, but its a process that takes time. Were eyeing the end of Q1 2025 for this to materialize.
He further emphasized that such a surge would require robust market momentum, supported by trillions of dollars returning to the crypto market during a full-fledged bull run. Moreover, he expressed confidence in SHIBs ability to reclaim its previous highs, bolstered by its active community and ecosystem developments.
Echoing similar sentiments, analyst Oscar Ramos urged the Shiba Inu community to remain patient despite the tokens recent price stagnation. Following its local high of $0.00003 during the Trump-driven crypto rally earlier this month, SHIB has been trading sideways as investors take profits, which some interpret as a healthy retest for potential long positions. Ramos further emphasized that meme coins like SHIB often exhibit delayed reactions within broader market cycles, unlike faster-moving rivals such as Pepe and Dogecoin.
SHIBs story isnt over, Ramos emphasized. When the bull market gains full steam, SHIB will reassert itself in the meme coin space. The key is to stay positioned and patient.
Meanwhile, analyst Mohammad Alajami shared a detailed chart on TradingView, highlighting his bullish outlook for SHIB. According to his analysis, the $0.00002120 level represents a key best support area for potential accumulation, offering a strong bounce opportunity. However, he cautioned against indiscriminate buying below this threshold. Alajami also projected that SHIBs next significant breakout could deliver gains of up to 547%, aiming for its last goal for the next bull run.
SHIB traded at $0.00002616 at press time, marking a 6.35% surge over the past 24 hours. Meanwhile, its 24-hour trading volume showed minimal movement, rising by just 0.94% to $3.6 billion during the same period.
Read more: https://zycrypto.com/market-analyst-claims-shiba-inu-could-surge-over-2000-within-this-timeline/
Text source: ZyCrypto
