Despite its recent underwhelming performance, Shiba Inu (SHIB) is poised for a significant price surge, according to market analyst Javon Marks. In his latest analysis, Marks has predicted a 231% rally that could send SHIB back to its 2024 highs.
Over the past month, SHIB has traded consistently around $0.000013, experiencing brief spikes and subsequent pullbacks. While the meme coin has shown signs of resilience, its overall trajectory has been lackluster.
However, Marks remains optimistic about SHIB’s future price action. Based on bullish patterns observed on the relative strength index (RSI), he believes that a substantial price surge is imminent. The analyst has highlighted that the RSI signals a potential recovery rally that could propel SHIB back to its 2024 highs.
SHIB’s 2024 high was established in March when its price surged to $0.000045, marking its peak value in three years. While the token has experienced a significant decline since then, Marks believes that the current conditions are ripe for a resurgence.
Also Read: Shiba Inu (SHIB) Poised For 1,500% Surge – Analyst Predicts New All-Time High By 2025
In addition to the potential recapture of its 2024 high, Marks has also set a more ambitious price target of $0.000081. If SHIB reaches this level, investors who bought it at lower prices could see gains of over 480%. This target would also place SHIB just 9.2% away from breaking its all-time high.
While Marks has consistently teased the $0.000081 price point in his analyses, it’s worth noting that the realization of this target may take time. However, his peak outlook for SHIB this season is for the asset to top out at $0.00015, canceling a zero and setting an unprecedented price point.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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