Shiba Inu has received another bullish prediction from a crypto analyst, highlighting the expectations that the meme coin is far from done. This time around, a crypto analyst has predicted a notable surge in the SHIB price, with the expectation that it will reach a new all-time high by the time the rally is complete.
Crypto analyst Javon Marks has predicted a new all-time high for Shiba Inu (CRYPTO: SHIB) with an expectation that the meme coin will reach a new peak by the end of the rally.
What Happened: Marks shared his crypto analysis on X (NYSE:PARA) (formerly known as Twitter), highlighting his bullish outlook for the Shiba Inu price. Marks, known for his vocal support for the coin, has been sharing his predictions since last year.
Marks noted that the Shiba Inu price has been trading within a bull flag pattern, which is a bullish continuation pattern. The meme coin has been able to break out of this pattern, which could lead to a rally.
“This breakout may be enough to spark another major wave up in an already massive uphill run,” added the crypto analyst.
The breakout is significant as it could propel the price to its current all-time high of over $0.000081, to begin with. Marks anticipates a further surge in SHIB if the rally continues from here, expecting it to reach as high as $0.00015.
The initial target would indicate a more than 300% increase in price. However, the “larger breakout” that the analyst expects is on the horizon, which is more substantial, bringing an over 800% increase in price if it materializes.
“A break above $0.000081 and SHIB may just be set for another +90% move to $0.0001553,” stated Marks.
Being Bullish On SHIB: Marks’ latest Shiba Inu analysis is only the latest in a long line of bullish predictions he has made for the meme coin. Marks’ thread began in September 2023, and since then, the SHIB price has risen by over 200%.
Despite the significant price increases since the first analysis, the crypto analyst believes that the meme coin still has a long way to go. The previous analyses also highlighted this point, expecting a continuation of the rally until its breakout to $0.000081.
Shiba Inu’s Price Action: At the time of writing on Friday, Shiba Inu’s price is still battling against the bearish headwinds in the crypto market after Bitcoin’s crash to $66,000. The meme coin is down 9.42% in the last 24 hours and is struggling against 18.16% losses on the weekly chart.
News source：https://www.kdj.com/cryptocurrencies-news/articles/shiba-inu-poised-time-highs.html
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