Shiba Inu Surge Imminent: 71% Gain Predicted by Analyst
- FOUR predicts SHIB could surge to $0.00003260, a 71% increase.
- Shiba Inu has already surged 34.36% in the past month.
- The meme coin sector has grown 2.9% in 24 hours, with SHIB leading the charge.
The bullish excitement around Shiba Inu (SHIB) continues to gain momentum. Recently, market analysts have highlighted the coins strong performance and the possibility of a significant price surge. In particular, a pseudonymous analyst known as FOUR has caught the communitys attention with bold predictions, suggesting SHIB might hit new highs sooner than expected.
As of today, Shiba Inu remains the 13th-largest cryptocurrency by market cap. In the past month, it has seen a 34.36% increase, standing out as one of the top performers, only trailing behind Dogecoin in the list of major meme coins.
The Shiba Inu rally has led to a crucial moment for its supporters. The asset is approaching a significant resistance level at $0.00002169. This price point was tested and rejected during SHIBs late September surge, but analysts argue that a break above this resistance could lead to much higher gains. In particular, FOUR believes SHIB could quickly advance to $0.00003260, marking a 71% increase from its current price.
In his latest tweet, FOUR cited the super meme coin cycle as a key driver behind this rapid move. He indicated that Shiba Inus weekly chart reflects a strong bullish momentum, which could drive the asset upward, overcoming the current barriers. He pointed out that SHIB closed the last week with a positive candle, inching ever closer to the resistance point.
Shiba Inus market cap has risen by more than 43% in the last month, reaching $11 billion. During this period, the asset temporarily surpassed Avalanche to secure the 12th spot among cryptocurrencies before experiencing some consolidation. Currently, SHIB is trading near $0.00001912, reflecting a 34.36% increase over the past 30 days.
Meme Coin Sector Boom Along With Shiba Inu
FOUR isnt the only voice predicting a continued surge for Shiba Inu. Mario Nawfal, a well-known crypto enthusiast and founder of IBC, also expressed optimism about SHIBs performance. He highlighted how the meme coin sector, despite the broader cryptocurrency markets mixed signals, continues to thrive. This sentiment reflects the resilience of meme coins, which have attracted increasing attention, especially with the ongoing cycles in the altcoin market.
The meme coin sector overall has shown impressive growth. Over the past five days, the top five meme coins have appreciated by an average of 30%, with SHIB taking a leading role. The sector itself has grown by 2.9% in just the last 24 hours, and now boasts a combined market cap of $65.3 billion.
As Shiba Inu continues to approach key resistance levels, many eyes are on this asset, hoping for the next breakout that could propel it further up the ranks of top cryptocurrencies.
Read more: https://www.tronweekly.com/shiba-inu-surge-71-gain-predicted-analyst/
Text source: TronWeekly
