Leading analysts predict that Shiba Inu is poised for a massive breakout, with some predicting a 200% rally as retail investors drive the next parabolic phase.
Shiba Inu has significantly underperformed the broader coin rally that has swept the crypto market since last week. Shiba Inu is trading at $0.00002568 at the time of writing, an increase of 8.2% over 24 hours. Over the past week, the token has gained 35% and its monthly rise is 42%.
In the meantime, Dogecoin is trading at $0.3787, reflecting an 81% increase over the past week. Its monthly performance was even more remarkable, with a jump of 211%.
This contrast has not gone unnoticed by the Shiba Inu community. Despite the disparity, prominent figures in the SHIB community remain optimistic, assuring their supporters that significant price increases could be ahead.
Shiba Inu warms up
In a recent job On X, Roaring Kitty, a popular crypto analyst, pointed out that the current price action of meme coins follows a historical pattern.
Using Shiba Inu as an example, he explained that the typical coin rally begins with an initial “warm-up” pump of 100-200%. Then follows a period of consolidation or price correction which lasts a few weeks.
After that, the enthusiasm of retail investors takes over, triggering a massive rally with a +200% rise in a single weekly candle.
Application of this model to Shiba Inu
Notably, Shiba Inu broke out of its downtrend in late September when it rose above $0.00002150. However, the momentum quickly faded and the price dropped to $0.00001553.
This month, Shiba Inu saw a more powerful rally, briefly pushing back the $0.00003 level for the first time in seven months. Specifically, on Tuesday, SHIB reached $0.0000303, but once again it lost strength and is now trading in the $0.00002 range.
Roaring Kitty considers this price action a “warm-up rally,” which suggests larger moves could come once retail investors jump into the market and FOMO into cheap meme coins.
He speculates that Shiba Inu could eliminate a leading zero and climb as high as $0.00015 during this retail trading frenzy. As a result, he urged SHIB holders to “keep holding.”
Other analysts share similar views
Other market analysts share this sentiment. “SHIB Mortal” advised traders to keep an eye on Shiba Inu, indicating that a breakout could occur at any time. He shared a chart showing that SHIB is at a critical point after a prolonged downtrend.
Likewise, analyst Esk noted that Shiba Inu has formed a falling wedge patternwhich generally signals a bullish continuation. Encouraged by this, Esk revealed that he had increased his SHIB holdings.
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