The cryptocurrency market has lately been experiencing a price slump, with Bitcoin hovering in between $95K to $98K price ranges. Bitcoin had earlier crossed the $100K mark, which had ushered in a momentous price rally for several altcoins, including Shiba Inu, which has now been sitting at $0.00001495. The token is steadily noting a decline. Will it be able to turn the tables around and fetch a new high soon? One analyst thinks so.

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Shiba Inu To Surge 400%?

shiba inu money
Source: Watcher Guru

While the market momentum restricts Shiba Inu’s spike to a new high, one market analyst has predicted a new stellar price peak for SHIB to claim and bank on. Per Javon Marks, Shiba Inu is already brewing a major price milestone, which can turn into a mega event for the market to witness and take note of.

While explaining it in brief on X, Marks stated how Shiba Inu is steadily maintaining the structure of a large inverse head and shoulder pattern. The analyst is adamant on the fact that SHIB is slowly leveling the field, and is due for a breakout which may push its price to hit the coveted $0.000081 price mark. If SHIB manages to achieve the current price level, it will be surging 400% in the process, marking a key moment for the community to bask and embrace.

“$SHIB (Shiba Inu) prices maintaining the structure of a large Inverse Head & Shoulder and with the $0.000081 target still in play, an over 402% run to reach it could come out of this!”

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The Token’s Immediate Future Path

Per CoinCodex, SHIB may take a while to break its current price spell. CC predicts the token to hit $0.00001530 by the end of March 2025.

SHIB STATS
Source: CoinCodex

“According to our current Shiba Inu price prediction, the price of Shiba Inu is predicted to drop by -1.43% and reach $ 0.00001530 by March 23, 2025. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 55 (Greed). Shiba Inu recorded 10/30 (33%) green days with 10.23% price volatility over the last 30 days. Based on the Shiba Inu forecast, it’s now a bad time to buy SHIB.

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