A well-known crypto analyst is predicting that Shiba Inu (SHIB) will surpass its previous all-time high price as it breaks out of its current “intermission” phase. Another analyst named Ashish has also made a prediction, stating that the asset could surge to $0.00008089 by June 24, 2024, and has identified the buying zone as $0.000022 and $0.000025.
The crypto analyst, Javon Marks, has provided a compelling argument for Shiba Inu’s future price movement. He predicts a significant surge to $0.0000886 in the next phase. Interestingly, the price of SHIB has remained within the range of $0.00002632 and $0.00002057 throughout the month.
Marks explains that Shiba Inu is currently in an intermission phase after experiencing a remarkable surge of 379% from February 25 to March 5. However, Marks believes that this intermission phase is just a temporary pause on its journey to reclaiming its all-time high.
Marks has observed that the price of Shiba Inu is forming a massive bull flag pattern, indicating a potential bullish breakout. With the significant uptrend that Shiba Inu has experienced, Marks suggests that an unprecedented increase in its price may be on the horizon.
Two weeks later, Marks reaffirms his position, stating that the asset has broken out of the bull flag pattern. He believes that this breakout signifies the completion of the intermission phase. During this period, Shiba Inu saw a 17% surge from $0.000025 to $0.000028 and entered the top five trending assets on CoinMarketCap.
Despite a recent decline of 1.8% in the last 24 hours, with Shiba Inu trading at $0.00002528, it has still gained 14% in the past 30 days. Although it fell from the 9th largest coin by market cap to the 11th, Marks remains confident in his prediction of an approximately 222% upside move to a new all-time high for SHIB.
Another analyst named Ashish has predicted a 500% surge for Shiba Inu. He identifies a bullish flag formation on the 1-hour chart, suggesting a 220% increase to reach $0.00008089 by June 24, 2024. Ashish also highlights the buying zones at $0.000022 and $0.000025.
In addition to these predictions, Shiba Inu’s burn rate has increased by 310%, removing 12.7 million SHIB tokens from circulation. This development has set the stage for a potential price rally.