Tl; DR
- An analyst said that the second part of memes has lost a crucial support line and that it could dive by 30% or more in the near future.
- On the other hand, another strategist of the market suggested that the current price movements of SHIB are part of a large inverse head and shoulder structure, which could cause overvoltage of 400 +%.
Ali Martinez was on the lower side, saying that the drop in the most recent SHIB prices – a drop of 4% in last week and more than 23% since that last time – means that the asset had lost a level of Key support, which is located somewhere between the two lines of $ 0,000019 and $ 0.00002.
The graph below shows that the largest native toy token has remained at this level for several months. He has climbed well above a few occasions since the summer of 2024, the last being after the American presidential elections, but lost steam and recently dropped at his lowest price since September.
Martinez warned that Shib could face another leg soon, which can bring it south to $ 0.000011, or even $ 0,00008. These violent declines would represent price reductions of 30% and 50%.
#Shibainu $ Shib has lost a key level of support! The next main support areas to monitor are $ 0.000011 and $ 0.00,0008. pic.twitter.com/xzl5kc6rgq
– Ali (@ali_charts) February 23, 2025
Contrary to Growing number of downward scenariosJavon Marks, another crypto analyst with more than 50,000 subscribers on X, provided a different perspective, saying that the current price movements of Shib keep “the structure of a larger head and shoulder model”.
Consequently, the strategist determined that Shiba Inu could reach $ 0.000081, which would be an increase of 420% of its current price levels.
$ Shib (Shiba Inu) Price while maintaining the structure of a large head and reverse shoulder and with the lens of $ 0.000081 still in play, a race of more than 402% to reach it could get out! https://t.co/wwgfdotpcu pic.twitter.com/wuz6c2yrly
– Javon⚡️Marks (@ javontm1) February 22, 2025
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