Shiba Inu Set for 840% Surge, Analyst Predicts Explosive Rally
- Javon Marks predicts Shiba Inu hitting $0.000081 in the short term and $0.0001553 long term, signaling an 840% gain.
- CoinCodex forecasts a minor uptick to $0.00002526 by Valentines Day but expects a decline to $0.00001506 by Februarys end.
- Market sentiment remains bearish, with SHIB facing resistance due to Bitcoins volatility and a Fear & Greed Index of 44.
Shiba Inu (SHIB) remains one of the top meme tokens, carving an independent path in the crypto market. Despite its resilience, SHIB currently sits at $0.00001559, down 3% in the last 24 hours. With Bitcoin (BTC) showing volatility between $95K and $97K, altcoins like SHIB face mounting pressure.
Bitcoins recent fluctuations have kept the market in check. SHIB, following suit, is struggling to gain momentum. However, the SHIB community remains undeterred, with analysts predicting a bullish future.
Shiba Inu is currently priced at $0.00001559, reflecting a 3% decline. Bitcoin remains highly volatile, fluctuating between $95,000 and $97,000. Market sentiment leans toward fear, with the Fear & Greed Index sitting at 44. Over the past 30 days, SHIB recorded gains on 12 out of 30 days, translating to a 40% green day ratio. Additionally, the token has experienced a price volatility of 11.87%, indicating significant market fluctuations.
Despite the dip, market analysts believe SHIB is poised for a turnaround. Javon Marks, a crypto price analyst, envisions SHIB hitting a grand price point of $0.0001553 in the long term.
Javon Marks outlines two significant price milestones for Shiba Inu. In the short term, he anticipates SHIB reaching $0.000081, representing a potential 393% increase. Looking further ahead, he predicts a more substantial surge, projecting the token to climb as high as $0.0001553, which would mark an impressive 840% gain.
Marks notes that SHIB has already confirmed bullish signals, breaking out of a major resistance trend. He points out that recent buyer activity has led to significant seller rejection, which could trigger a major rally.
SHIB (Shiba Inu) has already confirmed bull signals that suggest a continuation. Buyers in the recent dip showed up massively, creating huge seller rejection. This could shift sentiment back to a major bull, potentially fueling a >393% run towards the meeting of this target!
Valentines Day Surge for Shiba Inu?
CoinCodex predicts a minor surge for SHIB around Valentines Day, February 14, 2025. Their forecast suggests a price uptick to $0.00002526, offering a glimmer of hope for SHIB holders. However, by the end of February, a slight decline to $0.00001506 is expected, reinforcing the prevailing bearish sentiment.
According to CoinCodexs technical indicators, SHIB remains in bearish territory. The Fear & Greed Index at 44 indicates cautious sentiment, suggesting it may not be the best time to buy.
SHIB remains a community-driven asset with strong bullish projections from analysts like Marks. While Valentines Day may see a short-term surge, broader market conditions and Bitcoins stability will play a crucial role in SHIBs trajectory. For now, investors should remain cautious while keeping an eye on key resistance levels and market trends.
Read more: https://www.tronweekly.com/shiba-inu-set-840-surge-analyst-predicts-rally/
Text source: TronWeekly
