Harga SHIB Bersiap Meroket 600 Persen, Ini Dasar Teknikalnya

Shiba Inu, often dubbed the "Dogecoin Killer," is creating significant buzz within the crypto community as market analysts predict a substantial price surge.

Ashish, a prominent market analyst, makes a bold prediction that Shiba Inu (SHIB) could witness a dramatic 600 percent increase, potentially propelling the memecoin to $0.000075.

Breakout from SHIB's Price Consolidation Pattern

NewsBTC reports that this optimistic forecast follows a nearly two-year consolidation period outlined by Ashish. During this time, SHIB struggled to break out of a stagnant price pattern.

However, in December 2023, Shiba Inu finally breached a crucial resistance trendline, triggering a rally that saw the token surge by 370 percent, peaking at $0.000045 in early March 2024.

Despite this impressive rally, the bullish momentum was short-lived, leading to a market correction. In response, Ashish has identified a strategic buy zone between $0.000022 and $0.000025, suggesting these levels as potential entry points for investors.

Potential for a Second Leg Up

Ashish's technical analysis reveals a bullish flag pattern on the 1-hour chart, indicating the possibility of a second leg up. This pattern typically occurs after a sharp price increase followed by a period of consolidation, often signaling further upward movement.

Although SHIB has experienced a slight dip today, the market suggests potential for further growth. The daily RSI indicator currently stands at nearly 48, indicating that the crypto asset is neither overbought nor oversold. This neutral RSI suggests room for an upward move, aligning with Ashish's prediction.

Shiba Inu Price Predictions by CoinCodex

Adding to the excitement, Shiba Inu's current price prediction by CoinCodex forecasts a 220 percent increase, potentially reaching $0.00008089 by June 24, 2024.

CoinCodex's technical indicators currently show a Neutral sentiment, while the Fear & Greed Index stands at 76, indicating Extreme Greed. Over the past 30 days, Shiba Inu has experienced 12 out of 30 green days (40 percent) with a price volatility of 4.40 percent.

These metrics highlight the growing investor interest in Shiba Inu. The Extreme Greed reading on the Fear & Greed Index suggests high levels of enthusiasm, which, while potentially driving prices higher, also raises caution due to the risk of a swift sentiment shift.

Uncertain Bullish Momentum

The moderate volatility and occurrence of green days suggest a steady, albeit unpredictable, bullish momentum for SHIB. The combination of these factors makes Shiba Inu an intriguing asset to watch in the coming months.

Currently, the overall sentiment for Shiba Inu price predictions remains neutral. This assessment is supported by technical analysis indicators, with 20 showing bullish signals and eight indicating bearish trends.