Expert Anticipates Intensified Surge in Shiba Inu Price
After initial speculation surrounding the delay of the Shiba Inu rally, Crypto Sheriff has now forecasted a more forceful upward push in price.
The broader cryptocurrency market has rebounded from an earlier scare this month, with notable assets such as Shiba Inu experiencing significant surges and substantial gains over the past week.
To provide context, SHIB has seen a surge of over 13% in the past 24 hours, outperforming all other assets in the top 30 rankings by market capitalization. Additionally, the dog-themed token has marked a 17% increase in its price compared to the previous month.
However, the market analyst, Crypto Sheriff, speculates an even more aggressive surge in SHIB’s price, aiming for a parabolic expansion target of $0.000045.
Analyst Predicts Massive Price Surge
In a recent post, Crypto Sheriff mentioned an imminent price surge for SHIB, similar to what was witnessed over the past 24 hours.
This recent prediction follows the analyst’s earlier assertion that SHIB would experience a surge following a period of consolidation. Crypto Sheriff claimed that the Shiba Inu token had been stagnant for quite some time and was ripe for a “great pump.” At the time of his prediction, SHIB was trading at $0.00001296, approximately 23% below its current price.
Despite acknowledging that the price of SHIB was rising as predicted, the analyst emphasized that the token was not moving at the pace he expected. He further asserted that SHIB would witness a significant surge in the coming days.
Potential for $0.00002?
The recent surge in SHIB’s price to $0.0000167 has sparked bullish momentum, attracting attention from market observers. Notably, analyst Crypto Jack envisions a sustained price surge and the possibility of SHIB reaching $0.00002.
In a tweet on Thursday, Crypto Jack commented on Shiba Inu’s renewed pump following a period of sideways movement. He anticipates SHIB to continue this bullish trend and potentially break out in the daily timeframe.
The analyst highlighted that breaching the resistance at $0.0002 would confirm SHIB’s breakout from its current range and position the memecoin for higher prices. This aligns with a previous technical analysis published by Crypto Basic.