Although flying under the radar concerning price movements during Bitcoin's recent bull run, the dog-themed cryptocurrency Shiba Inu (SHIB) was able to appreciate 8.18% in the last week while Bitcoin reclaimed the $69,000 mark on Friday.
Shiba Inu (SHIB) price appreciated 8.18% last week as Bitcoin (BTC) price reclaimed the $69,000 mark on Friday.
After remaining relatively muted during Bitcoin’s recent bull run, meme coin Shiba Inu managed to eke out an 8.18% gain in the last week of price movements. As reported, BTC price rose sharply this week, reaching highs of $69,354 on Friday.
Analyst Predicts 200% Surge For Shiba Inu
Crypto analyst MMBTtrader seems rather positive about the future prospects of Shiba Inu as he expects a 200% increase to $0.000038. As he says, the SHIB had already registered a 75% gain from the $0.000011 support level within the price chart. The altcoin had indeed rallied from the demand zone in the early periods of August and September, accelerated its pace, and settled at $0.000019.
For SHIB, MMBTtrader predicts that it will not just consolidate to $0.00003852. As a matter of fact, he expects the higher highs and higher lows pattern where the initial push to May’s highs at $0.000028 will then be corrected to September’s highs at $0.000021. In case those levels hold, the meme coin could pull to the targeted $0.00003852.
Shiba Inu’s Price Path Forward
Shiba Inu trades at $0.00001925, close to 11% below the level of $0.0000216 resistance. Various predictions made by market experts convey a divergence of sentiment on SHIB trajectory. MMBTtrader projection for a possible 100% increase is based on an underlying conviction for the perpetuation of an upward trend. SwallowPremium sounds a note of caution with a ‘critic’ view of correcting it.
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