Is Shiba Inu Coin on the Verge of a Price Surge? Recent predictions suggest a potential spike in the value of the SHIB token, indicating a remarkable increase of over 1,000%.
Despite a recent market downturn causing a decline in the price of the Shiba Inu memecoin over the past two weeks, with a significant 10.1% drop in value, analyst Moataz Elsayed, also known as “Eljaboom”, has shared a forecast that points towards a dramatic turnaround for the memecoin, projecting a substantial price increase for Shiba Inu.
According to Elsayed’s analysis, the expert anticipates a significant surge in the price of SHIB memecoin, potentially reaching US$0.00024. This extraordinary rally would represent an unprecedented gain of 1,105% compared to the current price levels of the cryptocurrency.
In a recent post, Elsayed shared a chart indicating a possible upcoming price increase for Shiba Inu Coin, drawing parallels to a historical pattern that occurred in the second quarter of 2021 following the commencement of SHIB trading on Binance. The expert believes that if this historical pattern repeats itself, it could drive the price of Shiba Inu Coin to new heights.
As of the latest data, the price of Shiba Inu was hovering around US$0.00002299, reflecting a 1.1% decline in the past 24 hours and a 9.4% decrease over the previous week.
Furthermore, recent insights from the Santiment platform revealed a notable increase in whale transactions for Cardano (ADA) and Shiba Inu (SHIB) cryptocurrencies, indicating renewed interest and confidence from major investors in these tokens. This surge in whale transactions could potentially signal an impending appreciation in the prices of these cryptocurrencies.
It is important to note that the opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries inherent risks of financial loss and should be approached with caution.