Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here’s The Target

Shiba
Inu
has
rebounded
by
over
19%
from
its
$0.00002081
price
point
at
the
beginning
of
the
month.
Current
price
action
shows
the
cryptocurrency
might
be
on
its
way
to
performing
an
interesting
price
surge
in
the
coming
weeks. According
to
one
crypto
analyst,
SHIB
could
actually
go
on
a
120%
price
surge
after
breaking
out
of
the
current
consolidation.

Crypto
Analyst
Says
Massive
Surge
Coming

SHIB
kickstarted
a
price
correction
immediately
after
reaching
0.00003556
in
early
March.
Bullish
investor
sentiment
surrounding
the
meme
cryptocurrency
at
the
time
quickly
changed
into
a
bearish
one.
This
pushed
SHIB
on
a
decline
that
bottomed
out
at
$0.00002117
in
the
middle
of
April,
indicating
a
40%
price
correction
in
those
two
months.
Interestingly,
this
was
the
worst
SHIB
price
decline
since
the
May
2022
collapse
of
the
Terra
ecosystem.

Related
Reading:

Why
Did
The
Solana
(SOL)
Price
Jump
Today?

As
noted
on
the
8-hour
timeframe
chart
shared
on
social
media
platform
X
by
crypto
analyst
World
Of
Charts, 

SHIB
has
been
on
a
consolidation
channel
for
the
past
two
months.
However,
the
analyst
foresees
a
bullish
breakout
to
create
a
strong
bullish
wave
that’s
going
to
send
SHIB
holders
on
a
profit
margin
between
100%
and
120%.

$Shib

Consolidating
In
Bullish
Flag
In
H8
Timeframe
Incase
Of
Successful
Breakout
Expecting
Solid
Bullish
Wave
Expecting
100-120%
Bullish
Wave#Crypto

#Shib

pic.twitter.com/vfLClaexvu

—
World
Of
Charts
(@WorldOfCharts1)

May
3,
2024

Interestingly,
a
further
look
into
the
chart
shared
by
World
Of
Charts
shows
that
the
analyst
is
open
to
a
higher
price
surge
over
a
longer
period
of
time.
The
last
price
target
indicated
on
the
chart
is
$0.00009500,
which
is
a
280%
target
from
the
current
price
levels. 

Can
Shiba
Inu
Push
Higher?

Shiba
Inu
recently
formed
a
higher
low
on
the
weekly
timeframe,
an
indicator
that
the


bulls
might
be
starting
to
gain

the
upper
hand.
Despite
the
past
decline,
over
56%
of
SHIB
holders


remained
in
profit

as
many
long-term
holders
opted
to
hold
on
to
their
tokens.
At
the
time
of
writing,
SHIB
is
trading
at
$0.00002489
and
is
up
by
6.4%
in
the
past
seven
days.
This
price
increase
has
seen
the
number
of
SHIB
holders
in
profit
rising
concurrently
to
61%.

Related
Reading:

Bitcoin
Relative
Strength
Jumps
To
40%:
10x
Research
Reveals
Next
Steps
From
Here

Many
addresses
that
just
moved
into
profit
margin
are
not
taking
profit
indicating
that
majority
of
investors


are
anticipating
a
price
increase

in
May.
One
catalyst
that
could
lead
to
a
further
price
increase
is
the


recent
partnership

between
PayPal
and
MoonPay
which
will
allow
PayPal
users
within
the
United
States
to
buy
the
dog-themed
cryptocurrency
easily.

Popular
crypto
analyst
Ali
Martinez


also
predicted
a
SHIB
price
surge

based
on
a
bull
flag
that
has
recently
appeared
on
the
token’s
price
chart.

SHIB falls after brief recovery | Source: SHIBUSDT on Tradingview.com

Featured
image
from
Times
Tabloid,
chart
from
Tradingview.com

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