Shiba Inu (SHIB) has been on an impressive rally this November, with the meme coin achieving significant price surges and climbing into the top 10 cryptocurrencies by market capitalization. A recent update by CryptoAmsterdam, a prominent crypto analyst, has fueled renewed optimism, as the analyst revises their earlier forecast from September 30, providing new insights into SHIB’s potential price trajectory.
Previous Forecast – Stage 4 Printed On Shiba Inu’s Chart
CryptoAmsterdam’s initial analysis, released in late September, highlighted the formation of ‘Stage 4’ on Shiba Inu’s higher time frames, signaling the potential for an upward trend. This technical signal, commonly associated with the end of a bearish cycle and the beginning of a bullish phase, set the stage for SHIB’s remarkable performance. The analyst also noted the formation of a “mini-cycle structure,” a pattern that drove SHIB to its “macro range high.”
At the time, CryptoAmsterdam urged caution, advising investors to wait for two critical signals: a breakout above the corrective mini-range level of $0.25 or a false breakout that could validate the move. These indicators, according to the expert, would provide confirmation that the price action was indeed sustainable.
Since the September forecast, Shiba Inu has delivered impressive price action, reaching a 7-month high of $0.00003031. As of November 30, CryptoAmsterdam updated their analysis, confirming that SHIB has successfully completed the mini-cycle structure. This marks a pivotal moment in the price action, suggesting that the meme coin could continue its upward trajectory.
The analyst emphasized that while the bullish trend looks promising, Shiba Inu’s price dips should be viewed as buying opportunities. CryptoAmsterdam’s stance remains positive, with the analyst suggesting that every short-term pullback offers a chance to accumulate more SHIB in anticipation of future gains.
Shiba Inu’s Incredible Performance in November
November, which Shiba Inu’s lead developer Shytoshi Kusama dubbed “GrowVember,” has proven to be a favorable month for the token. SHIB’s rally began in early November following the re-election of a pro-crypto U.S. president, Donald Trump, adding fuel to the optimism surrounding the cryptocurrency market. Shiba Inu has surged by an astounding 59% month-to-date (MTD), 65.4% in the past seven days, and 182.7% year-to-date (YTD).
As of now, SHIB is trading at $0.0000289, up from its recent peak of $0.00003031. With this performance, Shiba Inu has cemented its place among the top 10 cryptocurrencies by market cap, surpassing Avalanche (AVAX). Currently valued at $17.09 billion, SHIB’s recent success has put it in the same league as some of the most prominent cryptocurrencies in the market.
Oscar Ramos’ $100 Billion Market Cap Projection
Notable crypto expert Oscar Ramos has weighed in on Shiba Inu’s potential, projecting that SHIB could soon reach a market cap of $100 billion. If this forecast comes to fruition, SHIB could see its price rise to $0.0001697, representing a significant increase from its current value.
Despite the bullish outlook, CryptoAmsterdam cautions investors to remain vigilant. With SHIB’s ongoing bull run, the market could experience periods of extreme volatility. As such, investors are advised to approach the current market dynamics with caution, ensuring they are prepared for potential fluctuations.
As Shiba Inu continues to capture the attention of both retail and institutional investors, all eyes are now on its next move. Will it maintain its bullish momentum, or will the market experience a correction? Only time will tell, but for now, SHIB’s performance in November has sparked a renewed sense of optimism among its community.
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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