According to U.Today, crypto analyst Ali Martinez has predicted a potential bullish surge for the meme-inspired cryptocurrency, Shiba Inu (SHIB). Martinez suggests that if SHIB can breach the upper boundary of a descending parallel channel at $0.00002444, it could experience a 20% upswing. This prediction is based on SHIB's trajectory aiming to surpass this crucial resistance level.
The cryptocurrency market, particularly meme-based digital assets, saw a notable uptick. Data from CoinMarketCap reveals that the meme cryptocurrency sector experienced a significant 5.56% surge in capitalization, amounting to a staggering $52.94 billion. Trading volumes for these meme-inspired tokens surged by over 118%, highlighting the increased interest and activity within this niche.
Leading the surge alongside SHIB are other meme coins like Pepe Coin (PEPE) and Dogecoin (DOGE). This increase in meme coin activity coincides with a resurgence of interest in the crypto space. This renewed interest could be fueled by the return of Keith 'Roaring Kitty' Gill, a prominent figure in financial discussions known for his involvement in the GameStop (GME) stock short-squeeze saga in 2021.
Gill, a former financial advisor and investor, became widely known for his bullish stance toward GameStop. His enthusiastic and persuasive posts attracted a large following in the online trading community, influencing many retail investors to buy shares of GameStop.
While SHIB stands out among its meme coin counterparts, Martinez's forecast injects a renewed sense of optimism into its trajectory. The potential 20% upswing, contingent upon breaching the resistance level, could herald a significant bullish trend for the SHIB community.
