Shiba

Dogecoin

Resistance

Shiba Inu

Analysts are anticipating a substantial increase in Shiba Inu (SHIB) price, with prominent forecasts suggesting that current levels may be the lowest we’ll see for a while. According to one well-known analyst, as we approach the final phase of the bull market, Shiba Inu investors could be on the verge of an exciting period. 
<h2 id="positive-price-predictions-from-analysts">Positive Price Predictions from Analysts</h2> 
As of October 28, SHIB was trading at $0.00001690 after a slight 0.7% drop. The token encountered resistance at $0.00001924 last week, leading to a 12.2% decrease. However, analysts remain optimistic, with some projecting that Shiba Inu could gain as much as 100% in the upcoming period, keeping investors engaged and excited about potential growth. 
The SHIB price chart reveals an inverse head-and-shoulders pattern, with a neckline close to $0.000019. Breaking this resistance could lead to a price surge, possibly doubling SHIB’s value and pushing it to new annual highs. Analyst Oscar Ramos told followers, “A breakout is near,” signaling that SHIB may be gearing up for a significant upward move. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-6741" src="https://deythere.com/wp-content/uploads/2024/10/representing-the-potential-for-a-significant-surge-in-Shiba-Inu-SHIB-prices-with-analysts-predicting-a-100-rise.-The-ima.webp" alt="" width="1792" height="1024" srcset="https://deythere.com/wp-content/uploads/2024/10/representing-the-potential-for-a-significant-surge-in-Shiba-Inu-SHIB-prices-with-analysts-predicting-a-100-rise.-The-ima.webp 1792w, https://deythere.com/wp-content/uploads/2024/10/representing-the-potential-for-a-significant-surge-in-Shiba-Inu-SHIB-prices-with-analysts-predicting-a-100-rise.-The-ima-300x171.webp 300w, https://deythere.com/wp-content/uploads/2024/10/representing-the-potential-for-a-significant-surge-in-Shiba-Inu-SHIB-prices-with-analysts-predicting-a-100-rise.-The-ima-1024x585.webp 1024w, https://deythere.com/wp-content/uploads/2024/10/representing-the-potential-for-a-significant-surge-in-Shiba-Inu-SHIB-prices-with-analysts-predicting-a-100-rise.-The-ima-768x439.webp 768w, https://deythere.com/wp-content/uploads/2024/10/representing-the-potential-for-a-significant-surge-in-Shiba-Inu-SHIB-prices-with-analysts-predicting-a-100-rise.-The-ima-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"> 
<h2 id="high-correlation-with-dogecoin">High Correlation with Dogecoin</h2> 
Shiba Inu’s price movement mirrors that of Dogecoin at a 97% correlation, indicating parallel trends between the two meme coins. Dogecoin’s growing popularity and upward trend could positively influence SHIB as well. Currently, Shiba Inu’s market cap sits at $9.9 billion. A 100% increase would bring its valuation to around $20 billion, placing SHIB just below Dogecoin. 
<h2 id="key-support-and-resistance-levels">Key Support and Resistance Levels</h2> 
From a technical standpoint, surpassing the $0.000019 resistance could propel SHIB to $0.000029 and even $0.000045. Key support levels are marked at $0.00001620 and $0.00001294. Dogecoin’s rise in the market may serve as an encouraging sign for SHIB as well, with experts eyeing a possible 100% increase. 
Investors may view SHIB’s strong connection with DOGE and its current attractive price levels as an appealing buying opportunity. 
Shiba Inu, SHIB, 100% increase, resistance, support levels

Expectations for a Shiba Inu Surge! Analysts Predict a 100% Rise

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