An influential analyst within the Shiba Inu community has predicted that SHIB may soon surpass its 22-month high of $0.000022 despite its prolonged downtrend.
In the past week, Shiba Inu has experienced a bearish trend, failing to recover the $0.00001 range achieved two weeks ago. Currently trading around $0.000009629, the asset has seen only a modest 1% increase over the last 24 hours.
Nevertheless, market analyst “SHIB KNIGHT” from the Shiba Inu community remains optimistic
about the asset’s future trajectory in the coming months.
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Analyst Shares Insight
SHIB KNIGHT recently shared insights on the X platform, informing the Shiba Inu community about an imminent breakout expected from the asset. The analyst pointed out that Shiba Inu has been facing a resistance level since August 2022, which it has struggled to overcome.
Additionally, they presented a chart depicting Shiba Inu’s performance over a one-week period, showing its repeated attempts to surpass this resistance point. Despite favorable market conditions since June 2023, the asset has consistently formed higher lows without experiencing significant breakout movements.
However, SHIB KNIGHT now expresses increased confidence that Shiba Inu will finally break through this historical resistance range. The analyst remarked, “It is on the verge of breaking the resistance this time.”
Anticipation of a Breakout
With conviction, SHIB KNIGHT asserted that SHIB is on the brink of a significant breakthrough. Analyzing the weekly timeframe chart, the analyst emphasized the encouraging signs observed in recent months. Despite previous setbacks, SHIB’s resilience and upward momentum suggest a forthcoming breakout. “It is close to breaking the resistance this time,” remarked SHIB KNIGHT, instilling confidence in the community.
Shiba Inu 128.5% Target Projection
Looking ahead, SHIB KNIGHT outlined a target for SHIB enthusiasts to anticipate following a successful breakout. The initial goal is a rally towards $0.000022, a level not seen since April 2022. This ambitious projection implies a staggering 128.5% increase from SHIB’s current trading price of $0.000009654. While the analyst refrained from specifying a precise timeline, the outlook for SHIB’s upward trajectory in the coming months appears promising.
