Shiba Inu is set to surge by an impressive 855% as market analyst Javon Marks identifies a hidden bullish divergence, signaling a massive rise in the cryptocurrency. Marks, who accurately predicted SHIB’s rally earlier this year, believes that the coin could reach new all-time highs. His analysis points to promising technical indicators and favorable market conditions.
In February, Marks initially shared his analysis when Shiba Inu was trading at $0.00001017. He identified a breakout pattern that he believed would lead to a substantial price surge. This prediction came true as prices spiked to $0.000045, although not reaching his highest target. The breakout from a downtrend channel was a crucial indicator in his analysis.
According to Marks’ recent report, SHIB has strong potential for another significant price increase. The chart indicates that the coin is poised for a breakout that could propel it to new highs. The analysis draws attention to the presence of a hidden bullish divergence, where the RSI forms lower lows while prices form higher lows. This suggests that despite lower lows in the RSI, the underlying strength of the price action remains strong.
Although Shiba Inu has given up gains from the previous rally, Marks expects a return to the early March highs. He predicts an 855% upsurge to a massive price of $0.000088598, which would be a new all-time high for the coin. IntoTheBlock data shows that SHIB is experiencing large whale buys, indicating increased demand and supporting the potential for reaching this target.
Currently, Shiba Inu is trading at $0.00001963, showing a 1.66% increase this morning. This price level represents a 55% gain from the July 5 low. The Money Flow Index (MFI) has also risen and now stands at 59.1, indicating strong market momentum and supporting the potential for further price increases.
In addition to the MFI, the Ichimoku Cloud sends promising signals for Shiba Inu. The Conversion Line, Base Line, and Lagging Span positions suggest short-term support and potential upward movement, despite the coin trading below key resistance levels. Overall, the trend for SHIB remains bullish.