Shiba Inu Flashes Bull Flag, Why A 150% Price Jump Is Imminent
Release: 2024/05/03 03:04 Reading: 911
- Original author：Bitcoinist
- Original source：https://bitcoinist.com/?p=297832
Shiba Inu (SHIB) may soon experience a significant price surge, as crypto analyst Ali Martinez has identified a bullish pattern emerging on the meme coin's chart. Shiba Inu's price could potentially increase by 150% if this rally materializes.
Bull Flag Formation on SHIB's Chart
Martinez noted in an X (formerly Twitter) post that Shiba Inu appears to be forming a bull flag on its daily chart. A bull flag is a bullish pattern that suggests the crypto asset will soon continue its upward momentum. In anticipation of this move, the crypto analyst disclosed that he had placed a buy order around $0.000018343, targeting a bullish breakout that would propel Shiba Inu's price to $0.000072323.
Related Reading: Cardano Founder and Ripple CTO Clash Over XRP Regulations and ETHGate Allegations
src="/uploads/20240504/17148015846635cbb0acc78.png">Source: X
Given that a rise to that price point represents a 150% price gain for the meme coin, some of Martinez's followers expressed skepticism about the prediction, with some playfully inquiring if his account had been compromised. Notably, this prediction is not overly ambitious, considering that Martinez previously forecasted that the meme coin could potentially reach $0.011.
Profit-Taking Strategy
Meanwhile, investors considering following Martinez's trade strategy could also adopt crypto analyst Crypto Noan's profit-taking strategy if Shiba Inu fails to reach $0.000072323 as predicted. Noan outlined four price levels at which SHIB investors should consider taking profit as the meme coin appreciates.
These price levels are $0.000028181, $0.000032816, $0.000039035, and $0.000043609. This implies that all of Noan's profit-taking targets would be met during Shiba Inu's potential rise to $0.000072323. Therefore, investors may want to consider securing profits along the way.
SHIB Poised to Reach $0.000072323
Shiba Inu reaching $0.00072323 appears feasible, as crypto analyst and trader Xanrox indicated that the meme coin could rise as high as $0.00008854 by July. Xanrox also predicted that Shiba Inu would experience a 300% price increase before the end of the year. Consequently, a 150% surge from its current price level could be easily achieved.
Related Reading: Dogecoin Enters Major Accumulation Zone, Is It Time to Re-Enter?
Moreover, other crypto analysts such as Javon Marks have projected that SHIB could eliminate another zero and reach $0.0001553 during this bull run. Shiba has already demonstrated its potential to be one of the best-performing assets in this cycle, with a year-to-date (YTD) gain of over 100%.
At the time of writing, Shiba Inu is trading at approximately $0.00002196, representing a 3% increase over the past 24 hours, according to data from CoinMarketCap.
src="/uploads/20240504/17148015846635cbb0acc78.png">SHIB price rises to $0.000023 | Source: SHIBUSDT on Tradingview.com
Featured image from Crypto News Flash, chart from Tradingview.com
Recent news
More>- 6 Best Cheap Crypto to Buy Now Under 1 Dollar November 25 – Arbitrum, Mina, Chiliz, Theta Fuel 11-26
- Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum? 11-26
- Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains 11-26
- Whale Moves 308B BONK Tokens to Coinbase Before Big Burn Event 11-26
- Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins 11-26
- Missed the Pepe Coin Frenzy? This New Best Meme Coin is Here to Realise Your Dreams 11-26
- From Underdog to Top Dog: This Solana-Based Token Could Outperform Pepe by 100x This Year! 11-26
- Top 5 Crypto That Have Surpassed Their ATH In Recent Days! 11-26
- Best Wallet Soars Past $1M In Private Sale As Public Presale Starts Today For Web3 Wallet Built For 2024 Bull Run 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com