Shiba Inu (SHIB) Charts Suggest Potential for Larger Upward Diagonal

Shiba Inu and Dogecoin Surge Amidst Market Recovery

Shiba Inu (SHIB), the second-largest meme coin in the cryptocurrency market, has experienced a 4% surge in the past 24 hours, bringing its price to $0.000019. Its rival, Dogecoin (DOGE), has outperformed SHIB, rising by an impressive 10.54% over the same period.

As the overall digital asset market rebounds and attempts to reach new highs, SHIB's price appears poised for a potential breakout. However, it remains stuck between $0.000011 and $0.000020, unable to establish support at the latter level.

Despite this, an analyst known as "MauticBraham" has forecasted a target of $0.00008845 for SHIB in the current cycle. If this prediction holds true, the value of SHIB could potentially increase by almost four times.

This forecast suggests that the chart pattern for SHIB in 2021 and 2024 indicates a potential for a larger upward diagonal movement.