Bullish: Analyst Forecasts Shiba Inu’s 800% $SHIB Upswing , $PEPE 650% $BONK 400% also #LUNC✅ stablecoin soon. buy & Hold BIG 💥
Shiba Inu is set for a meteoric 300% upswing later this year, defying its recent dip following a robust rally between late February and early March and underlining its potential for a dramatic recovery and substantial growth soon.
Forecasting a bullish future, Trading View analyst Xanrox, expected the value of Shiba Inu to quadruple from a referenced price point later this year, setting the stage for what could be one of the most remarkable rallies in the crypto domain.
They said investors “need to catch the bounce and ride the next wave to the upside,” which means buying the cryptocurrency at a low point right before its price begins to rise again.
The analyst is suggesting that there is an upcoming opportunity where the price of SHIB will start to rebound, and investors should prepare to capitalize on this.
The Fibonacci retracement is a popular tool among traders to identify potential support and resistance levels, based on the idea that markets will retrace a predictable portion of a move, after which they will continue to move in the original direction. The 0.618 level, or 61.8%, is known as the “golden ratio” and is considered by many traders to be the most likely retracement level where the price can reverse. The analyst identified 0.00002249 as a significant price level to buy SHIB.
The analyst further emphasized the importance of conducting an Elliott Wave technical analysis, which is a form of technical analysis to predict future price movements by identifying recurring wave patterns in market prices with impulsive and corrective waves and can provide insights into market trends. Xanax said this technical analysis is crucial so investors would grasp the full market structure and understand the upcoming uptrend’s potential trajectory.
