Analyst Predicts 718% Surge For Shiba Inu (Shib), Advises Investors To Accumulate

Prominent analysts forecast Shiba Inu price to hit $0.0002, marking a 718% increase. Using Elliott Wave theory, they see current price dips as prime buying opportunities before a potential breakout.

Analysts Forecast Major Shiba Inu (SHIB) Rally: Why Now Is the Time to Invest

Shiba Inu (SHIB), the second-largest meme coin by market capitalization, is in the spotlight as analysts predict an extraordinary price surge. Leveraging Elliott Wave theory, they anticipate a climb to $0.0002, marking a 718% gain from current levels.

Currently trading at $0.00002475, Shiba Inu is in a corrective phase after dropping 11% from its recent peak of $0.00002816 on November 24. Despite this, experts highlight the dip as an opportune moment for investors to accumulate.

Elliott Wave Analysis Projects a Massive Upswing

Market expert Charting Guy recently shared a detailed analysis, applying Elliott Wave theory to forecast Shiba Inu’s potential trajectory. According to his breakdown:

• Wave 1: Reached $0.000045 in March, establishing the coin’s initial bullish trend.
• Wave 2: Retraced to $0.00001080 in August, marking a corrective phase.
• Wave 3 (Ongoing): Expected to peak at $0.00012, a 380% increase from current levels.

Charting Guy further predicts a brief retracement to $0.00004937 (0.786 Fibonacci level) before the final Wave 5 propels SHIB to $0.0002. If realized, this would elevate Shiba Inu’s market cap to an estimated $118 billion, surpassing Dogecoin.

Bullish Momentum Backed by Experts

Other prominent analysts echo these optimistic projections:

• Alan Santana anticipates SHIB reaching $0.0002 soon, driven by market-wide bullish sentiment.
• Michael, another crypto analyst, aligns with the Elliott Wave forecast, citing strong technical indicators for upward momentum.

This consensus among experts suggests Shiba Inu’s long-term potential remains robust, even amidst short-term fluctuations.

Market Sentiment and Strategic Accumulation

To capitalize on the anticipated surge, Charting Guy revealed that he has doubled his investment in Shiba Inu during recent price dips. His proactive strategy reflects growing confidence in SHIB’s ability to outperform other meme coins.

On-chain data further supports this outlook, with increased accumulation among retail and institutional investors. A broader crypto market rally could also amplify SHIB’s price movement, as meme coins often ride bullish waves alongside major assets like Bitcoin and Ethereum.

Key Levels to Watch

• Support: $0.000024 (20-day moving average)
• Resistance: $0.00012 (Wave 3 target), $0.0002 (Wave 5 projection)

As Shiba Inu consolidates within its current range, a breakout above $0.00012 could confirm the start of its next major rally.

Conclusion

With multiple analysts pointing to a 718% increase and current price levels offering an attractive entry point, Shiba Inu is poised for significant gains. Investors looking to capitalize on this opportunity should consider the broader market trends and technical indicators supporting SHIB’s potential breakout.

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