Is 'Dogecoin Killer' Shiba Inu Headed For Another 40% Surge? Crypto Analyst Predicts 'Bullish Breakout' For SHIB Under These Conditions
Portfolio Pulse from Benzinga Neuro
Crypto analyst Ali Martinez predicts a potential 40% surge in Shiba Inu (SHIB) price if it maintains a close above the $0.000038 resistance level, based on a symmetrical triangle pattern on the 4-hour chart. Conversely, falling below $0.000033 could negate this bullish outlook. SHIB's recent uptrend is attributed to hints of token burns and active community engagement by its lead developer. Currently, SHIB is trading 9.9% lower at $0.000031.
March 11, 2024 | 2:14 am
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Shiba Inu (SHIB) could potentially surge by 40% if it maintains a close above the $0.000038 resistance level, as predicted by crypto analyst Ali Martinez. The current trading price is $0.000031.
The prediction of a 40% surge is based on a technical analysis of SHIB's chart, specifically a symmetrical triangle pattern. The current downtrend in SHIB's price might present a buying opportunity if the asset can sustain a close above the specified resistance level. However, the volatile nature of cryptocurrencies and reliance on technical patterns for this prediction introduces some uncertainty.
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