- Analyst predicts that Shiba Inu could mirror a February bullish movement of 300% as large investors silently accumulate the asset.Â
- Another analyst predicts that SHIB could match the market cap of gold and trade at $0.02 by 2045.Â
Shiba Inu (SHIB) makes an impressive surge to $0.00001526 after making a bullish reversal of 5.9% in the last 24 hours and 14% in the last seven days. At press time, SHIB’s trading volume had skyrocketed by 76% with $307 million changing hands.Â
According to analysts, the current phase largely appears as an accumulation stage for the meme coin marked by low volatility. Based on this, SHIB is expected to make a bullish surge similar to the one witnessed in February.Â
To accurately understand the current market behaviour, analyst CryptoCheck subjected the SHIB price chart to a Wyckoff Method’s Accumulation – a tool used to identify whether large investors are intentionally suppressing a price to buy time for more accumulation. Based on the outcome, two major periods were identified. The first happened between late 2023 and early 2024.Â
According to him, this accumulation led to a breakout of 330% in less than two weeks in late February and early March. Data also suggests that the second stage is ongoing as large investors are silently accumulating SHIB, which could set the price up for a similar bullish surge. According to the analyst, the price could go as high as $0.00005 from the current trading price.Â
MBM Crypto Joins the Shiba Inu (SHIB) Prediction
For analyst MBM Crypto, the key resistance level and support zone have been identified in the SHIB price chart. He observed that the descending trendline has suppressed Shiba Inu’s price since April 2024. He also observed that the treadline has consistently acted as a ceiling for the price movement of SHIB, forcing the price to move down the curve each time it approaches. According to him, the market sentiment could likely shift from bearish to bullish once the asset breaks above this trendline.Â
Advising traders, MBM Crypto stated that it is important to enter long positions once the asset breaks above the resistance level at $0.00001875. To him, the asset could target three main points – $0.00002, $0.0000225, and $0.000025. Each of these price points would be a critical area where serious selling pressure could be witnessed.Â
Oscar Ramos’ Earlier Analysis
Months ago, renowned crypto analyst, Oscar Ramos predicted that SHIB could potentially eliminate multiple zeros to hit $0.02. His forecast was based on a prediction by MicroStrategy’s Michael Saylor which positioned Bitcoin for a $3 million price per coin in a bearish scenario by 2045.Â
Drawing insight from this, Ramos estimated that his SHIB prediction could materialize by 2045. In explaining his point, Ramos mentioned that his first scenario is based on the possibility that SHIB could reach the $1.37 trillion market cap of Bitcoin in the future, pushing the price to $0.0023 in a 13,647.8% surge.Â
His second scenario is based on the fact that the market cap of SHIB could reach the $16 trillion valuation of gold, sending the price to $0.0271 with a 1,600X Return On Investment (ROI). According to him, a surge to $1 is highly unlikely at the moment, however, anything can happen in the future.Â
Based on ongoing developments, including the token-burning strategies we comprehensively reported, SHIB could be worth more than it is today by 2045.Â
