Shiba Inu Set to Surge to $0.000070, Analyst Predicts

Shiba Inu has been a bumpy ride for holders recently. Despite some disappointing price movements, a market analyst sees a potential breakthrough. Could Shiba Inu soon surge to $0.000070? Let’s dive into the chart analysis and what this could mean for Shiba Inu’s future.

Bullish Signs on Shiba Inu's Chart

Shiba Inu is currently priced at $0.00002574, down 5% this past week. However, it’s seen a small 1.1% gain over the last month. Despite lagging behind other meme coins and altcoins, analyst Klejdi Cuni is optimistic.

On the daily chart, Shiba Inu has followed an upward path since a trend reversal in September. The price has been rising steadily with higher highs, forming a bullish pattern. This could be a sign of things to come.

Cuni also observed that Shiba Inu has built strong support around $0.00002424. This level has held firm for a month, suggesting ongoing accumulation. The consolidation phase could set up a potential breakout soon.

Key Price Targets for Shiba Inu

Cuni’s chart analysis points to several price levels to watch. If a breakout occurs, the first target is $0.00003232, a 25.6% increase from the current price. 

The next level to watch is $0.00004, which Shiba Inu lost ten months ago. Further down the line, Cuni sees Shiba Inu potentially reaching $0.00005675, a 120.4% increase. 

His most optimistic forecast sees Shiba Inu climbing to $0.00007012 by mid-2025. This would mark a 172.5% surge from the current price, bringing the coin close to its all-time high.