Shiba Inu (SHIB) Price Forecast: Crypto Analyst Highlights Potential for 309% Surge Amid Hidden RSI Divergence

During the Sunday trading session, the crypto market witnessed a massive inflow as Bitcoin prices hit a new high of $80,137.

Bitcoin price hit a new high of $80,137 on Sunday, sparking a massive rally in the crypto market. The global market cap reached $20.58 billion, and the 24-hour trading volume was $2.53 billion.

As the market recovered from the recent sell-off, buying pressure extended the recovery trend to mostly major altcoins, including SHIB. A crypto analyst now highlights that this rally coincides with a confirmed hidden bullish divergence in Shiba Inu price, signaling the potential for a 309% surge.

At press time, SHIB price had traded at $0.0000276, showing an intraday gain of 34.6%. According to Coingecko, the global market cap stood at $20.58 billion, while the 24-hour trading volume was $2.53 billion.

Crypto Analyst Forecasts 300% Rally for Shiba Inu Price Amid Hidden RSI Divergence

On November 10, the crypto market saw an extended recovery, largely driven by the news of Donald Trump emerging victorious in the 2024 presidential election. Such dynamic shifts in the market often lead to rapid and high-momentum rallies, especially among top memecoins, owing to their inherently volatile nature.

In line with this, the top memecoin Shiba Inu recovered sharply from $0.00001685 to register a 49% surge, bringing the price to $0.000025. Consecutively, SHIB’s market cap also pumped to reach $14.93 Billion.

Amid the roaring Bitcoin market, crypto analyst Javon Marks highlighted a bullish outlook for the Shiba Inu price, showcasing the formation of hidden bull divergence. This bullish continuation setup is formed as the momentum indicator RSI (relative strength index) forms a lower low against the higher low formation in price.

Now, expanding on Mark’s analysis, the Shiba Inu price gave the necessary breakout from $0.00002, signaling its escape from a 5-month consolidation. The recent surge has covered 300% potential for the target to $0.000081 significantly, as the current price shows it is 214% away.

The analysis also shared an extended crypto bull target of $0.00015.

SHIB Adoption Accelerates with Surge in Active Addresses and Network Growth

According to Santiment data, Shiba Inu (SHIB) has seen a significant spike in 24-hour active addresses, reaching 5,184, alongside a surge in network growth to 3,045. This indicates increased user activity and growing adoption of the SHIB network, signaling heightened investor interest and potentially strengthening the token’s fundamentals.

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