Javon Marks, an expert analyst in the world of cryptocurrencies, has recently forecasted potential new all-time highs for the popular meme coin Shiba Inu (SHIB). According to CoinGecko, SHIB is currently 90.38% off its peak value of $0.00008616 as of October 28, 2021.Marks has identified a “triple bottom” pattern in SHIB’s latest price chart. This is a bullish chart pattern that consists of three identical lows followed by a breakthrough above the resistance level, usually taken to signify a strong support level and a potential downward trend reversal. The last time the price of Shiba Inu experienced a triple bottom was between June and September 2021, when it sank to $0.00000619, $0.00000593, and $0.00000592. Shortly after the third dip, Shiba Inu went on an impressive bull run from Oct. 4 to Oct. 28, recording its all-time high price.Marks claims a similar pattern has emerged in Shiba Inu’s price chart, although the intervals between bottoms have been more spread out this time. It started in June 2022, when the meme coin bottomed out at $0.00000818. The second dip in this new triple bottom cycle occurred at the tail end of 2022, with SHIB tanking to the $0.00000791 level. The third and final bottom was in June 2023, when it dropped as low as $0.00000543.Despite fears that a fourth bottom could introduce an element of uncertainty, Marks remains optimistic about the dog-themed coin’s potential to reach new all-time highs. SHIB is currently trading at $0.00000825, up 2.3% in the last 24 hours. Shiba Inu’s lack of serious momentum has been blamed on the general state of the crypto market, but both Marks and Shiba Inu marketing strategist Lucie are predicting an upcoming bull market that they hope will greatly benefit SHIB.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Lucie, Javon Marks |
| Companies | Shiba Inu, Binance, Shibarium, PrimeXBT, CoinGecko |
| Currencies | Shiba Inu, Ethereum, US Dollar, Bitcoin |
| Securities | None |
