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Will Shiba Inu Coin Rise? SHIB poised to explode 1.100%, analyst reveals

Fast Take
  • Will Shiba Inu Coin Price Go Up Soon?
  • One forecast highlighted a potential explosion in the price of SHIB.
  • The forecast suggested that Shiba Inu could rise more than 1.000%.
Shiba Inu Coin Rising Today: How Is Shibarium Hype Driving SHIB?
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The price of Shiba Will Inu Coin rise soon? A recent forecast highlighted a potential explosion in the price of the SHIB token, suggesting a stunning increase of over 1.000%.

The price of the Shiba Inu memecoin has shown a pullback in the face of the recent market crash, falling significantly in the last two weeks. SHIB has recorded a 10.1% drop in the last 14 days. However, analyst Moataz Elsayed, known as “Eljaboom”, shared a prediction highlighting a stunning reversal for memecoin with a significant increase in the price of Shiba Inu.

As highlighted in his analysis, the expert believes that the SHIB memecoin is ready for a substantial increase in its price, which could catapult its value to US$0,00024. This incredible rally would mark an unprecedented gain of 1.105% if you compare the cryptocurrency's current price levels.

The expert shared a chart in which he suggests that the price of Shiba Inu Coin could rise soon. “History is repeating itself SHIB,” Elsayed wrote in a recent post.

 

The analysis observed a pattern that first happened in the second quarter of 2021, after the Binance start SHIB trading. For the expert, memecoin's historical data presents a pattern that, if repeated, will drive the price of Shiba Inu Coin to reach new heights.

At the time of publication, the Shiba Inu price was quoted at US$0,00002299, down 1.1% in the last 24 hours. In its weekly development, the price of memecoin has shown a drop of 9.4% in the last seven days.

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Number of ADA and SHIB whale transactions doubles; Sign of accumulation?

In a significant move, the major investors in the sector, known as whales, of the Cardano (ADA) and Shiba Inu (SHIB) cryptocurrencies appear to have renewed their expectations and confidence in the tokens, a promising sign for future appreciation in their respective prices.

Um lifting shared by the Santiment platform on June 5, revealed that whales are currently showing greater interest in three cryptocurrencies, namely: Cardano (ADA), Shiba Inu (SHIB) and JasmyCoin (JASMY).

The data highlighted that the number of transactions worth more than US$100 for each of the cryptocurrencies more than doubled during this week, a great sign of whale accumulation.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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