- Shiba Inu price tumbles, but analysts predict a massive rebound based on past surges.
- The bullish chart suggests an 11x increase, potentially reaching $0.00024.
- The community remains optimistic despite the current market downturn.
Despite Shiba Inu (SHIB) reaching its lowest price since April amidst a market downturn, prominent figures within the crypto community remain optimistic, pointing to historical patterns that suggest a potential rebound.
A bullish Shiba Inu chart, originally posted by Moataz Elsayed, a Forbes 40 Under 40 nominee, has recently gained attention in the crypto community. Based on historical patterns, the chart predicts an 11x surge for SHIB, potentially reaching $0.00024.
The chart references Shiba Inu’s previous rally to its all-time high of $0.0000885 in the last quarter of 2021. Prior to this historic surge, SHIB experienced a temporary spike to around $0.00001995, followed by a pullback to $0.000005, where it consolidated for 140 days. This consolidation phase led to a breakout, with Shiba Inu surging by 343.64% to its all-time high in October 2021, coinciding with the height of the 2021 bull market.
The post Shiba Inu’s Price Chart Hints at a Massive 11x Rally appeared first on Coin Edition.