TL;DR

Shiba Inu (SHIB) has recently risen by 6%, with predictions of further significant increases if it breaks key resistance levels. Analysts are optimistic, with forecasts ranging from moderate gains to potential surges as high as 350% in the near future.

SHIBs Next Possible Move

The price of the popular meme coin Shiba Inu (SHIB) has recently flashed green, rising by 6% over the past week. The sudden move to the north did not come as a surprise to some analysts who forecasted a substantial rally.

SHIB Price, Source: CoinGecko One example is the X user Ali Martinez, who assumed that SHIBs value could climb by 20% should it break the upper boundary of this descending parallel channel at $0.00002444.

Dami-Defi was even more optimistic, claiming that the token has formed a falling wedge pattern on the 1D time frame. The analyst envisioned a 50% price pump if the current level gets surpassed. They also estimated that the meme season continues.

As CryptoPotato reported, numerous assets of that type, including PEPE, FLOKI, BONK, and many others, have charted significant gains as of late, while the total market capitalization of the niche exceeded the $55 billion mark.

Additional Recent Forecasts

The X user with almost 100,000 followers Del Crxpto is also among the bulls. Not long ago, he claimed to know whats coming in the future and , as such, hopped on the SHIB bandwagon as an investor:

I know the future, I know whats coming for SHIB. I will not share this information, as I do not want to tarnish my SHIB relationships. However, I will tell you this: I am accumulating $SHIB.

Rekt Capital and CRYPTO SHERIFF gave their two cents, too. The former noted that SHIBs value has reached the same level as the one from early 2022, suggesting that the price might explode by triple digits should it cross the critical resistance level of $0.00002741.

CRYPTO SHERIFF maintained that a breakout has already happened, forecasting a 350% rally in the near future.