As Shiba Inu shows strong rebound ability, one analyst suggests that the meme coin will continue on the path to its all-time high.
Shiba Inu participated in the broader market correction, losing more than 22% last week. The recession saw the dog-themed coin retest an early November low of around $0.00001853.
Meanwhile, SHIB has rebounded strongly from the zone to trade near its main demand zone. approximately $0.000022. The asset surged 24% from the low and is now trading at $0.00002312.
As a result, veteran market analyst Javon Marks insists that the Shiba Inu’s bullish momentum persists. One Christmas Day tweethe argued that the meme coin could continue on its path to $0.000081.
Shiba Inu prints a bullish signal
Marks said Shiba Inu has shown upside potential. He mentioned in his tweet that the latest rally in the Shiba Inu had sent a bullish signal intended to stimulate further price increases.
Moreover, the market expert said that the path of the Shiba Inu, near its all-time high of $0.00008854, remains on track. According to the commentary, Marks claimed that the second largest coin would rise by over 234%, or approximately 3.33x to reach $0.0000810.
An attached chart shows that Shiba Inu printed a bullish confirmation after the last rise. The SHIB/USD 1-day chart shows that the token confirmed its bullish momentum with a bullish daily close yesterday.
Notably, the analyst did not clearly state when Shiba Inu will reach the new target. However, his “in the cards” remark suggests that the meme coin would imminently explode in price.
Shiba Inu at $0.000081
Meanwhile, Mark was specific about Shiba Inu’s surge to $0.0000811. He reiterated this prediction several times, echoing the bullish momentum around the Shiba Inu ecosystem.
In October, the seasoned analyst suggested a move to $0.000081 was imminent. Notably, the prediction came before the bullish momentum resulting from Donald Trump’s election victory took hold of the crypto market.
At the time, the Shiba Inu was trading at $0.0000178, and a purchase at that rate would have caused the portfolio to rise by more than 30% at the current market price. Meanwhile, the meme coin remains 252% away from the $0.000081 target.
However, other analysts share a correlated price outlook for the Shiba Inu. For context, popular community figure SHIB KNIGHT insists the token is ready for use. conquer $0.00008618 and aim for unprecedented heights.
Additionally, Charting Guy speculated that SHIB could retest its all-time high. He cited a breakout of a symmetrical triangle, suggesting a rise to $0.00008841.
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