Shiba Inu Poised for Epic 1,164% Surge, Predicts Analyst

Renowned crypto analyst Rafaela Ligo predicts that Shiba Inu (SHIB) is poised for a potential 1,164% rally, echoing its 2021 bull run behavior. Ligo draws parallels between the current SHIB price action and its past surge, suggesting it could repeat the upward trajectory. CryptoQuant's report of significant SHIB outflows from exchanges adds to the bullish sentiment, indicating reduced selling pressure.

Shiba Inu Primed for a 1,164% Surge, Analyst Predicts

Analyst Rafaela Ligo Delivers Bullish Forecast for Shiba Inu

Noted crypto analyst Rafaela Ligo has sparked excitement within the Shiba Inu community with her latest forecast, predicting a potential 1,164% rally for the meme token. Drawing parallels to its stellar performance during the 2021 bull run, Ligo suggests that Shiba Inu is positioned for another significant upward trajectory.

Striking Similarities to 2021 Bull Run

Ligo notes striking similarities between Shiba Inu's current price action and its behavior during the 2021 bull run. In September 2021, SHIB faced resistance at $0.0000095, undergoing multiple retests before experiencing a notable price drop to $0.000007. However, Ligo identified a bullish divergence in SHIB's relative strength index (RSI), indicating underlying strength in the asset.

In October 2021, Shiba Inu broke through the resistance level, catapulting itself to a jaw-dropping 1,164% surge within a mere month. Ligo believes that this historical precedent suggests Shiba Inu may be poised for a repeated performance.

Predicted Surge to $0.000140

Ligo forecasts that Shiba Inu is on the cusp of shattering the $0.000032 resistance barrier once again. She predicts a potential 2,015% upsurge, nudging Shiba Inu's price to an ambitious $0.0001402.

Contributing Factors to the Bullish Sentiment

Several factors are driving the bullish sentiment surrounding Shiba Inu:

• Increased Social Activity: Shiba Inu has witnessed a surge in social media engagement and discussion.
• Rising Price Action: SHIB's price has been trending upwards in recent weeks.
• Accelerating Market Volume: Trading volume for Shiba Inu on Binance has surpassed 907 trillion tokens since late February.
• Strong LunarCrush AltRank™: Social intelligence company LunarCrush rates Shiba Inu with a very strong AltRank™ of 2, indicative of positive market sentiment.

Reduced Selling Pressure

CryptoQuant's recent report underscores a significant outflow of SHIB from exchanges over the last seven days. This shift towards self-custody methods is interpreted as a bullish signal, alleviating immediate selling pressure and paving the way for potential price hikes.

Analyst Insight

"Shiba Inu's current behavior bears striking similarities to its 2021 bull run," said Rafaela Ligo. "The confluence of increased social activity, rising price action, accelerating market volume, and a strong LunarCrush AltRank™ suggests that SHIB may be priming for another significant surge."

Community Sentiment

The Shiba Inu community has met Ligo's forecast with a mix of excitement and cautious optimism. Some investors anticipate that Shiba Inu can repeat its historic run, while others remain cognizant of the inherent volatility in the cryptocurrency market.

As the cryptocurrency landscape continues to evolve, it remains to be seen whether Shiba Inu will fulfill Ligo's bullish predictions. However, the analyst's insights and the underlying bullish factors provide valuable context for investors and enthusiasts alike.