Top Analyst Says Shiba Inu Showing Textbook Bull Signals, Predicts Massive Rally to $0.000081
Shiba Inu (SHIB) closed 2024 on a high note, consolidating above a key breakout level and fueling optimism for a significant rally in the coming months.According to analyst Javon Marks, SHIB is displaying "textbook bull signals" on lower time frames, suggesting that upward momentum is imminent. Notably, Shiba Inu is trading at $0.00002108, registering a 2% uptick over the past day.Shiba Inu Showing "Textbook Bull Signals"In his analysis, Marks pointed out that SHIB recently broke out of a long-term resistance trendline. Notably, this breakout saw Shiba Inu reclaim a seven-month high at $0.00003329 in the first week of December.However, a correction phase followed this historic rally. Shiba Inu lost most of the gains, retracing to levels it traded before its breakout. Specifically, SHIB revisited lows at $0.0000186 a few weeks after hitting the seven-month high.Analyst Marks confirmed that Shiba Inu retested the breakout level during the pullback as support. Meanwhile, Shiba Inu has been rebounding notably, trading in the $0.000021 range. Considering Shiba Inu closed 2024 above $0.00002, Marks described this move as a "textbook bull signal."Accordingly, he expressed confidence that SHIB is primed for a continuation of its uptrend after successfully retesting the breakout level.Shiba Inu Potential TargetsJavon Marks has set a price target of $0.000081, representing a potential 264% gain from current levels. Notably, this was the price range around which Shiba Inu bulls lost momentum in the last cycle.Marks has repeatedly highlighted the $0.00008 price point for SHIB for most of 2024, remaining confident that Shiba Inu will eventually recapture the historic price point.Meanwhile, Marks has an even higher target for SHIB. He has argued that Shiba Inu can reach the unprecedented price territory at $0.000155. Marks believes this threshold would be Shiba Inu's destination in this bull cycle.
Text source: The Crypto Basic
