- Analyst FOUR predicts SHIB to reach $0.00003260 sooner than expected.
- SHIB up 30% in past month, approaching $0.00002169 resistance.
- Meme coin sector flourishing despite positive utility token news.
Shiba Inu (SHIB) finds itself at the center of bullish speculation as market analysts predict an imminent surge in its value.
The 13th-largest cryptocurrency by market capitalization has demonstrated impressive performance, recording a 30% increase over the past month, outpaced only by Dogecoin among the top 15 crypto assets.
Pseudonymous analyst FOUR has sparked discussion with a bold prediction, suggesting that SHIB will reach $0.00003260 faster than most market participants anticipate.
This forecast implies a potential 71% uptick from current price levels, underscoring the analyst’s bullish outlook on Shiba Inu’s near-term prospects.
$SHIB is Marching towards $0.00003260 price very soon than you expect
Memes super cycle is just started #Shib #MemeSeason #MemeSupercycle pic.twitter.com/8QXXiE7odd
— FOUR | Crypto Spaces (@X_Four_iv) October 19, 2024
FOUR’s analysis draws on SHIB’s 1-week chart, which the analyst interprets as indicating sufficient bullish momentum to overcome the looming resistance at $0.00002169 and propel towards the $0.00003260 target.
The recent weekly close, marked by a healthy bullish candle near this significant resistance level, adds weight to this optimistic projection.
What’s next for Shiba Inu?
The analyst also points to the “super” bullish meme coin cycle as a catalyst for Shiba Inu’s potential surge. This sentiment is echoed by IBC founder Mario Nawfal, who highlights SHIB’s impressive performance within the context of the broader meme coin sector’s upward trajectory.
The flourishing meme coin sector stands in contrast to the performance of utility tokens, even in the face of positive developments such as the SEC’s approval of options trading for Bitcoin spot ETFs.
Despite Bitcoin’s brief touch of $69,000 following this news, meme coins continue to attract attention and capital inflows.
