Shiba Inu Price Prediction: Crypto Assets analysts say a massive spike is coming, which is the goal

Shiba Inu has rebounded more than 19% from the $0.00002081 price earlier this month. The current price action suggests that #加密货币SHIB# could see an interesting price spike in the coming weeks. A Crypto Assets analyst said SHIB could actually continue to pump up 120% after breaking out of the current consolidation.

SHIB BEGAN ITS PRICE CORRECTION IMMEDIATELY AFTER HITTING 0.00003556 IN EARLY MARCH. At the time, investors' bullish sentiment on this memetic Crypto Assets quickly turned into falling sentiment. This pushed SHIB down fall and bottomed out at $0.00002117 in mid-April, suggesting a 40% price pullback over the two months. Interestingly, this is the worst falling in SHIB prices since the collapse of the Terra ecosystem in May 2022.

As shown in an 8-hour timeframe chart shared by Crypto Assets analyst World Of Charts on the social media platform X, SHIB has been in a consolidation channel for the past two months. However, analysts expect a bullish breakout to generate a strong bullish wave that will leave SHIB holders with profit margins between 100% and 120%.

Interestingly, further study of the charts shared by World Of Charts shows that analysts are open to higher price spikes over an extended period of time. The last price target shown on the chart is $0.00009500, which is the 280% target of the current price level.

Shiba Inu has recently formed higher lows on the weekly time frame, suggesting that the longest may be starting to gain the upper hand. Despite the decline in the past, more than 56% of SHIB holders are still profitable as long long-term holders choose to hold their Token. At the time of writing, SHIB is trading at $0.00002489, pump 6.4% over the past seven days. The price pump also rising the profit ratio of SHIB holders to 61%.

Xu long Address, which had just entered the margin, did not take profits, suggesting that a large number of long investors expected prices to pump in May. One catalyst that could lead to further price pumps is the recent partnership between P.P and M.P., which will make it easy for P.P. users within the United States to buy dog-themed Crypto Assets.

Popular Crypto Assets analyst Ali Martinez also predicted a SHIB price spike based on the bull flag that recently appeared on the Token price chart.

(Source: Scott Matherson)