Prominent Analyst Evaluates Shiba Inu (SHIB): Reveals the Point Where He Claims the Rally Will Begin

Ali Martinez, one of the most well-known analysts in the cryptocurrency world, evaluated Shiba Inu (SHIB) in his latest analysis.

According to the analyst, SHIB has started to form a symmetrical triangle formation on its 4-hour chart. Martinez claimed that if there is a sustainable close above $0.000038, a 40% bullish rally could occur and the SHIB price could climb towards $0.000052.

At the time of writing this article, SHIB price is trading at $0.00003511 and has increased by 286% in the last month.

However, the analyst also warned that the bull scenario he mentioned above will be invalid if the SHIB price falls below $0.000033.

Related News: Analyst il Capo of Crypto Continues Bearish Messages Again After Record in Bitcoin

Recently, memecoins have maintained their place on the agenda with their rise. While the original memecoin Dogecoin has increased by 124% in the last month, WIF, one of the DOGE imitation cryptocurrencies, has increased by an impressive 757% and has become the 59th largest cryptocurrency. However, these coins do not have any intrinsic value and the rise in their prices is due to speculation.

*This is not investment advice.

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