Top traders expect Shiba Inu value to rise 235% to $0.00005816 after recent decline

As the cryptocurrency market rebounds from yesterday’s sharp decline, a top market analyst expects the Shiba Inu to target a massive 235% rally to a new annual peak.

In context, cryptocurrency enthusiasts witnessed a state of panic yesterday after Bitcoin fell by more than 10% in two days to around $93,000. The coup stimulated the bleeding of the altcoin market Shiba Inu Retesting key support around $0.0002.

However, the speculative coin has shown resilience, rebounding strongly from support. The Shiba Inu is up 28% from its low of $0.0000185 yesterday, and is up 6% this morning to trade above $0.000238.

Analysts expect further rises

Meanwhile, prominent market analyst Dollars Maker emphasized that the Shiba Inu has more positives from here. Recently TradingView Commenting, the pseudonymous trader indicated that he would open a long position, entering at the lowest price levels recorded on December 20.

Furthermore, expect three upside targets for the Shiba Inu, including a 235% rally to $0.00005816. But he did not provide a timetable for its implementation.

Dollars Maker expects the Shiba Inu to aim for its first target, a 92% rise to $0.00003339. Furthermore, the meme will target a 163% rally to $0.00004566 before eventually rising 235% to $0.00005816. This third target would mark a new annual peak for SHIB, surpassing the March 2024 high of $0.000045.

Analysts expect prices to rise

Meanwhile, comments from other analysts show that Shiba Inu will target higher prices in the short term. One analyst is Kligdi Kone, who believes the Shiba Inu is as well Promising signs are showing.

The market commentator confirmed that positive sentiment around the Shiba Inu ecosystem will push the token to $0.000070 soon. He speculated that a prolonged buildup near the $0.00002424 support would provide the momentum needed to push the meme coin to the target price.

Furthermore, Pouyan TradeFX subscribes to a similar option, insisting that the Shiba Inu is willing to push the power to $0.000074. analyst male That the Shiba Inu could break a multi-year trend line holding back price appreciation and eventually target a rally of over 100%.