A prominent market analyst, Charting Guy, has ignited excitement within the cryptocurrency community by sharing his bullish outlook on Shiba Inu (SHIB). The analyst predicts a potential three-figure surge for the meme coin, leading to a new all-time high.
A Bullish Outlook Amidst Correction
While Shiba Inu, like many other cryptocurrencies, is currently undergoing a corrective phase, analysts view this as a strategic accumulation opportunity. The second-largest meme coin by market capitalization has retreated from its November 24 peak of $0.00002816, experiencing an 11% decline.
However, Charting Guy believes that this short-term bearish trend will ultimately pave the way for a significant upside. The analyst’s Elliott Wave analysis suggests that Shiba Inu has already completed the first and second phases of its wave count, indicating that the third wave is underway.
Potential Price Targets
According to Charting Guy’s analysis, Shiba Inu could reach the following price targets:
- Phase Three Target: $0.00012 – This represents a potential 380% surge from the current market price, pushing Shiba Inu’s market capitalization above $70 billion.
- Phase Five Target: $0.0002 – This ambitious target would translate to a 718% increase from the current price, potentially valuing Shiba Inu at over $100 billion.
Analyst Confidence and Community Excitement
The analyst’s bullish stance on Shiba Inu (SHIB) has resonated with the cryptocurrency community, with many investors and traders eagerly anticipating the predicted price surge. Charting Guy has even revealed that he has doubled down on his Shiba Inu (SHIB) holdings, further fueling the excitement.
$SHIB wave count speculation 🌊
— Charting Guy (@ChartingGuy) November 27, 2024
are your bags packed enough for something like this? 📈
FYI most alts have a similar structure 👀 https://t.co/sVCHKHYzFT pic.twitter.com/2sSHXUz371
While it’s important to approach such predictions with caution, the potential for significant upside in Shiba Inu has undoubtedly captured the attention of investors and traders alike. As the cryptocurrency market continues to evolve, it will be interesting to see if Shiba Inu can live up to the lofty expectations set by analysts like Charting Guy.
The Shiba Inu (SHIB) community, known for its passionate and active engagement, has enthusiastically embraced Charting Guy’s prediction. Social media platforms are buzzing with discussions and analyses, with many community members sharing their own technical insights and bullish sentiments. The community’s strong belief in Shiba Inu’s potential, coupled with the analyst’s optimistic forecast, has created a powerful synergy that could further fuel the coin’s momentum.
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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