Shiba Inu (SHIB) Makes an Impressive Surge to $0.00001526

Shiba Inu (SHIB) makes an impressive surge to $0.00001526 after making a bullish reversal of 5.9% in the last 24 hours and 14% in the last seven days.

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Shiba Inu (SHIB) price enjoyed a bullish 5.9% surge over the last 24 hours, bringing the total seven-day gain to 14%. At press time, SHIB was valued at $0.00001526, with an impressive 76% increase in trading volume, reaching $307 million.

According to analysts, the current phase appears to be an accumulation stage for the meme coin, characterized by low volatility. This scenario has led experts to anticipate a bullish surge for SHIB, similar to the one observed in February.

To gain a deeper understanding of the current market behavior, analyst CryptoCheck employed the Wyckoff Method's Accumulation technique on the SHIB price chart. This tool aims to identify whether large investors are intentionally suppressing the price to gain more time for further accumulation. The analysis revealed two key periods.

The first period occurred between late 2023 and early 2024. According to the analyst, this accumulation stage preceded a breakout of 330% in less than two weeks during late February and early March.

The analysis suggests that a second accumulation stage is currently underway, with large investors quietly accumulating SHIB, which could set the price up for a similar bullish surge. Based on the technical analysis, CryptoCheck highlighted the possibility of the price reaching $0.00005 from the current trading price.

MBM Crypto Joins the Shiba Inu (SHIB) Prediction

Analyst MBM Crypto also provided valuable insights into the SHIB price chart, specifically highlighting the key resistance level and support zone.

His analysis revealed that Shiba Inu's price has been suppressed by a descending trendline since April 2024. This trendline acted as a ceiling for SHIB's price movement, causing the price to drop each time it approached the line. MBM Crypto suggested that a shift in market sentiment from bearish to bullish could occur once the asset breaks above this trendline.

To guide traders, MBM Crypto emphasized the importance of entering long positions once the asset breaks above the resistance level at $0.00001875. He anticipated that the asset could target three main price points: $0.00002, $0.0000225, and $0.000025. Each of these price levels would present a critical area where substantial selling pressure could be encountered.

Oscar Ramos’ Earlier Analysis

In a previous development, renowned crypto analyst Oscar Ramos predicted that SHIB could potentially shed multiple zeros and reach $0.02.

His analysis was sparked by MicroStrategy's Michael Saylor's prediction that Bitcoin could reach $3 million in a bearish scenario by 2045.

Drawing inspiration from Saylor's projection, Ramos estimated that his SHIB prediction could materialize by 2045. To elaborate on his point, Ramos stated that his first scenario is based on the possibility that SHIB could reach the $1.37 trillion market cap of Bitcoin in the future, pushing the price to $0.0023 in a 13,647.8% surge.

His second scenario considers the market cap of SHIB reaching the $16 trillion valuation of gold, sending the price to $0.0271 with a 1,600X Return On Investment (ROI). According to Ramos, a surge to $1 is highly unlikely at the moment, however, anything can happen in the future.

Based on ongoing developments, including the token-burning strategies we comprehensively reported, SHIB could be valued at a higher price than today by 2045.

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