Shiba

bullish

Movement

CRYPTO

Shiba Inu

The cryptocurrency market is optimistic as investors anticipate new highs for top assets. Among them, Shiba Inu (SHIB) has gained attention from analysts forecasting significant price gains in the current market cycle.
<h2 id="b-shiba-inu-expected-to-break-previous-record-b">Shiba Inu Expected to Break Previous Record</h2>
A notable market analyst, Crypto Sheriff, has <a href="https://x.com/gem_sheriff/status/1868254608524791836?s=46" rel="noopener noreferrer nofollow">predicted</a> that Shiba Inu could surpass its all-time high of $0.00008616, achieved during the 2020/2021 market cycle. In a post shared on December 15, the analyst stated that the outcome is inevitable, emphasizing the coin’s potential in the ongoing bullish trend.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 It is inevitable that <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> will break down ATH in this supercycle!<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/owuMMgpwoh" rel="noopener noreferrer nofollow">pic.twitter.com/owuMMgpwoh</a>
 — CRYPTO SHERIFF (@Gem_Sheriff) <a href="https://twitter.com/Gem_Sheriff/status/1868254608524791836?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 15, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
This prediction follows the asset’s impressive performance in November 2024, where the token rallied approximately 98% after the U.S. presidential election. Many believe Donald Trump’s victory signaled a crypto-friendly shift in U.S. policy, contributing to the token’s rise from $0.00001687 to $0.00003343. Meanwhile, the asset has retraced some gains and is <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">trading</a> at $0.00002682.
<h2 id="b-analysts-highlight-shiba-inu-shib-bullish-patterns-b">Analysts Highlight Shiba Inu (SHIB) Bullish Patterns</h2>
While Crypto Sheriff maintains a positive outlook, other analysts have provided additional technical insights supporting the possibility of a significant price increase. On December 10, CryptoELITES <a href="https://x.com/cryptooelites/status/1866458224666292529?s=46" rel="noopener noreferrer nofollow">identified</a> a bullish cup-and-handle formation on Shiba Inu’s weekly chart.
The analyst noted that if the token breaks above a long-standing downtrend line, it could potentially reach $0.0004729, marking a 1,700% increase from its current value.
The downtrend, which has acted as a resistance level since October 2021, is considered a critical barrier. According to CryptoELITES, breaking through this resistance would confirm the bullish pattern and set the stage for a sustained upward trend.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="b-risk-of-downside-movement-b">Risk of Downside Movement</h2>
Despite the optimism, some analysts have highlighted potential risks. As earlier <a href="https://timestabloid.com/analyst-foresees-shiba-inu-shib-to-rally-150-heres-why/" rel="noopener noreferrer nofollow">reported</a> by Times Tabloid, market commentator PouyanTradeFX warned that if Shiba Inu fails to overcome the downtrend, the token could significantly decline. In this scenario, prices might drop by as much as 150%, bringing SHIB to the $0.000011 range.
Such contrasting analyses underscore the importance of closely monitoring technical indicators and market conditions. While many remain bullish, the outcome will largely depend on how the asset performs in the face of these key resistance levels.
The asset’s recent performance and technical setups have fueled speculation about its potential to reach new highs. Analysts like Crypto Sheriff and CryptoELITES are optimistic about the token’s future, while others urge caution, emphasizing the importance of breaking resistance levels to confirm a bullish trend.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on <a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.facebook.com/timestabloid/" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow">Google News</a>
The post <a href="https://timestabloid.com/analyst-believes-shib-will-hit-new-all-time-high-in-this-bull-cycle/" rel="noopener noreferrer nofollow">Analyst Believes SHIB Will Hit New All-Time High In This Bull Cycle</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

Analyst Believes SHIB Will Hit New All-Time High In This Bull Cycle

Table of Contents

Times Tabloid

Other articles published on Dec 19, 2024

Harbour Teams with Velocity Labs to Launch Instant Stablecoin Payment Between EU Banks and Polkadot

Ethena (ENA) Rallies Following Proposal with WFI and Whale Accumulation: Are More Gains Ahead?

Chinese Company That Is A Master At Finding Bottoms And Tops Bought This Altcoin During The Recen...

Next Key Solana (SOL) Support Revealed

Fed’s Hawkish Stance Spurs Crypto Market Decline

Kevin Svenson Analyzes Bitcoin’s Positive Trends and Key Support Levels

Join our free newsletter for daily crypto updates!