- Analysts predict that Shiba Inu could reflect a 300% uptrend in February as large investors quietly accumulate the asset.
- Another analyst predicts that SHIB could reach the market cap of gold and trade at $0.02 by 2045.
Shiba Inu (SHIB) makes an impressive rise to $0.00001526 after a bullish reversal from 5.9% in the last 24 hours and 14% in the last seven days. At the time of writing, SHIB trading volume was 76% 307 million dollars changed hands.
According to analyststhe current phase appears to be largely an accumulation phase for the meme coin, characterized by low volatility. Based on this, SHIB is expected to experience an uptrend similar to that seen in February.
To understand the current market behavior in detail, analyst CryptoCheck subjected the SHIB price chart to accumulation using the Wyckoff method – a tool that helps determine whether large investors are deliberately suppressing a price to buy time for further accumulation. Based on the result, two main periods were identified. The first occurred between the end of 2023 and the beginning of 2024.
According to him, this accumulation led to a 330% increase in less than two weeks in late February and early March. The data also suggests that the second phase is still underway as large investors are quietly accumulating SHIB, which could prepare the price for a similar uptrend. According to the analyst, the price could rise to as high as $0.00005 from the current trading price.
MBM Crypto joins Shiba Inu (SHIB) prediction
For analyst MBM Crypto, the key resistance level and support zone were identified on the SHIB price chart. He noted that the descending trend line has been pushing down the price of Shiba Inu since April 2024. He also noted that the tread line has consistently acted as a ceiling for SHIB’s price movement, forcing the price to move down the curve every time it approached. According to him, the market sentiment could likely change from bearish to bullish once the asset breaks this trend line.
Giving advice to traders, MBM Crypto stated that it is important to enter long positions once the asset breaks the resistance level at $0.00001875. In his view, the asset could target three main points – $0.00002, $0.0000225, and $0.000025. Each of these price points would be a critical area where serious selling pressure could be seen.
Oscar Ramos’ earlier analysis
Months ago, renowned crypto analyst Oscar Ramos predicted that SHIB could potentially eliminate several zeros and reach $0.02. His forecast was based on a prediction by MicroStrategy’s Michael Saylor, who estimated Bitcoin to be priced at $3 million per coin by 2045 in a bearish scenario.
Ramos estimated that his SHIB prediction could come to pass by 2045. To explain his point, Ramos mentioned that his first scenario is based on the possibility that SHIB could reach Bitcoin’s $1.37 trillion market cap in the future, which would push the price to $0.0023 in a year. 13,647.8% Increase.
His second scenario is based on the fact that SHIB’s market capitalization could reach the $16 trillion mark of gold, which would push the price to $0.0271, with a 1,600 times Return on investment (ROI). According to him, a rise to $1 is highly unlikely at the moment, but anything can happen in the future.
Based on ongoing developments, including the token burning strategies that we have extensively reportedSHIB could be worth more by 2045 than it is today.
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