Shiba Inu has received another bullish prediction from a crypto analyst, highlighting expectations that the meme coin is far from complete. This time, a crypto analyst predicted a notable increase in the SHIB Pricewith the expectation that it will reach a new all-time high when the rally ends.
Shiba Inu set for new all-time highs
In an analysis posted on X (formerly Twitter), crypto analyst Javon Marks shared a rather optimistic expectation for the Shiba Inu Price. Marks, who has been quite vocal about his support for the coin, continued into the new week by predicting a new all-time high for the meme coin.
Crypto Analyst Reveals Shiba Inu Price Was Trading Within a small bull flag pattern. However, the meme coin was able to break out of this bull flag pattern and could see a recovery as a result of this development. As the crypto analyst explains, “This breakout could be enough to trigger another big wave in an already massive rally!”
The main reason this breakout is important is where the price could end up. On one hand, the crypto analyst sees the price reaching its current high above $0.000081 to begin with. So if the recovery continues from here, Marks hopes SHIB rise to $0.00015.
The initial target would constitute a price increase of more than 300%. However, the “big breakout” that the analyst expects to be on the horizon is more important, bringing an increase of over 800%. increase in price If that happen. “A break above $0.000081 and SHIB could be set for another +90% move to $0.0001553,” said Marks.
Being bullish on SHIB
The most recently Shiba Inu Analysis from crypto analyst Javon Marks is just the latest in a long line of bullish predictions he has made for Shiba Inu. Marks’ discussion goes back to September 2023, and since then the price of SHIB has risen more than 200%.
Despite notable price increases since the first analysis was published, the crypto analyst believes the meme coin is far from ready. Previous one analytics also reiterates this point, expecting a continuation of the rise until it reaches US$0.000081.
At the moment, the price of the Shiba Inu is still battling crypto market headwinds after Bitcoin’s price fell to $66,000. It fell 9.42% in the last day alone and is also struggling with losses of 18.16% on the weekly chart.
Featured image created with Dall.E, chart from Tradingview.com