Shiba Inu Embarks on Macro Third Wave, Analysts Project Positive Long-Term Outlook

Despite Bitcoin's limited price action, Shiba Inu faces ongoing market challenges. Crypto Analyst Crypto Cipher suggests the altcoin is entering a macro third wave, with potential drops to $0.000015. Long-term projections remain bullish, with possible rallies to $0.0001 in the macro fourth wave and $0.00028 in the fifth wave by mid-2025.

Shiba Inu Embarks on Macro Third Wave, Analysts Project Bullish Long-Term Prospects

Amidst a subdued crypto market landscape, Shiba Inu (SHIB), the popular meme coin, continues to face headwinds, mirroring the broader market downturn. However, long-term analysts maintain a positive outlook for SHIB, anticipating significant growth in the forthcoming years.

Macro Third Wave in Motion

Cryptocurrency analyst Crypto Cipher has released his latest analysis of Shiba Inu, positulating that the altcoin has entered the Macro Third Wave, a significant phase in its long-term price trajectory. This wave follows the completion of the first and second waves, which unfolded between late 2023 and early 2024.

Cipher's analysis suggests that the current Macro Third Wave implies a bearish sentiment, with a potential decline in SHIB's price to as low as $0.000015 before a subsequent recovery. However, if SHIB manages to maintain its current support level, it could initiate a bounce into the Macro Fourth Wave.

Extended Bullish Outlook

The Macro Fourth and Fifth Waves are anticipated to be even more bullish than the preceding waves. The Fourth Wave, projected to commence once the $0.000015 level is breached, has a potential upside of $0.0001, representing a nearly 500% increase from the lows or a 3x increase from SHIB's current market valuation.

Following the Fourth Wave, a correction is forecasted, potentially resulting in a 50% price retracement. However, the subsequent Fifth Wave is expected to continue the bullish trend, reaching an upper target of $0.00028, potentially yielding a 1,000% price increase for investors.

Timeline Projections

According to Cipher's analysis, this extended bull market for Shiba Inu is anticipated to unfold over a prolonged period. The Fourth Wave is not expected to materialize until mid-2024, while the Fifth Wave is projected to commence in 2025, concluding around the middle of the year.

Market Sentiment and Cautions

While analysts remain optimistic about Shiba Inu's long-term prospects, it is crucial to note that crypto markets are inherently volatile and subject to fluctuations. The current downtrend in the broader crypto market, including Bitcoin's subdued price action, poses challenges for SHIB's short-term performance.

Investors considering Shiba Inu should conduct thorough research and exercise caution before making investment decisions. While the potential for substantial returns exists, it is equally important to understand the risks associated with cryptocurrency investments.