Shiba Inu Might Be Gearing up for a Bullish Run, Suggests Analyst

The price of Shiba Inu might currently be declining, but an analyst suggests the meme coin is gearing up for a bullish run as it is currently flashing a buy signal.

Despite the current decline in the price of Shiba Inu (SHIB), an analyst has identified a bullish signal indicating an impending rally for the meme coin.

Cantonese Cat, a cryptocurrency analyst and YouTuber, recently shared an analysis highlighting SHIB's strong buy signal on the L3 Banker Fund Flow Trend Oscillator. This oscillator, which is not widely used, is designed to analyze the capital flow in cryptocurrencies among major market participants.

According to Cantonese Cat, SHIB's price action in conjunction with this oscillator reveals that the meme coin is poised for a significant rally. The analysis suggests that SHIB could experience at least a 5x move to its all-time high, with a potential increase of 2,430% to a target of $0.00047.

Cantonese Cat's analysis also examines SHIB's price movement in relation to other altcoins. The video highlights the current SHIB trends as they relate to the broader altcoin market.

Cantonese Cat points out that Shiba Inu is among ten cryptocurrencies—also including Optimism, Avalanche, Cardano, Chainlink, Boba Network, COTI, Amp, Cartesi, and Injective—that are currently flashing a buy signal on the L3 Banker Fund Flow Trend Oscillator.

The L3 Banker Fund Flow Trend Oscillator is a technical indicator that analyzes the capital flow in and out of cryptocurrencies among major market participants. A close examination of SHIB's price action with this indicator reveals that this buy signal is very rare.

The last time a buy signal appeared for SHIB was in July 2023. At that time, SHIB was trading below $0.000008. Notably, even though the buy signal appeared then, SHIB's price continued to consolidate for another six months before finally experiencing a strong rally in February 2024 during a broader crypto market upturn.

Fast forward to October 2024, and SHIB is now showing another indication of a bullish rally according to the L3 Banker Fund Flow Trend Oscillator.

While the buy signal is derived from the banker fund oscillator, the analyst uses Fibonacci levels to predict potential targets once the breakout finally occurs. The initial target is the 1 Fibonacci extension level, which aligns with SHIB’s current all-time high of $0.0000884.

The analyst also identifies an ambitious “crazy target” for those anticipating a more substantial surge. This ultimate target aligns with the 1.618 Fibonacci extension level, corresponding to $0.00047.

Reaching this price would require SHIB to break through multiple resistance levels, both before and after surpassing its all-time high. Achieving this “crazy target” would represent a 2,430% increase or approximately a 30x jump from the current price level. Cantonese Cat suggests this target could be reached by August or September 2025, though he acknowledges this is a highly ambitious forecast. According to him, a more feasible target is a 10x run from the current SHIB price.

At the time of writing, SHIB is trading at $0.00001733, down by 6% in the past 24 hours.