Expert Forecasts 52% Surge in SHIB Price: Is Shiba Inu Price Set to Skyrocket?

Shiba Inu (SHIB), the popular dog-themed digital currency, has caught the attention of cryptocurrency enthusiasts who are eagerly watching its recent performance amid speculation of a significant surge. While it may be trailing behind some of its market counterparts in the current uptrend, experts believe that Shiba Inu could experience a remarkable 52% leap, potentially reaching $0.00001492.

Shiba Inu has seen notable price movements recently, although it hasn’t fully embraced the ongoing market rally. Earlier this week, the token achieved a significant milestone by shedding a zero from its price after experiencing a 4% surge on February 15. This propelled Shiba Inu beyond the $0.00001 threshold. However, the excitement was short-lived as SHIB dipped below $0.00001 and is currently hovering around $0.00000973.

Renowned crypto expert and Shiba Inu enthusiast, known as ‘$SHIB KNIGHT,’ has taken to Twitter to share an optimistic forecast for SHIB’s future. The expert predicts that Shiba Inu will surpass the $0.00001 mark and aims for targets of $0.00001011, $0.00001193, and $0.00001309. Ultimately, the expert anticipates a target of $0.00001492, which would represent a robust 52.7% rally from its current value of $0.00000977.

$SHIB KNIGHT supports these predictions by highlighting the prevailing positive sentiment in the market and Shiba Inu’s recent breakout in the weekly charts as catalysts for the anticipated surge. The analyst also points to the significant move of SHIB crossing the 50-day EMA at $0.00000940, which historically led to an 80% price increase in October 2023. The expert emphasizes essential support levels for Shiba Inu at $0.00000953, $0.00000896, and $0.00000880, which could act as potential buffers against market fluctuations.

Currently, SHIB is actively trading at $0.00000973, indicating a 1.83% decrease in the last 24 hours and placing its market capitalization around US$5.84 billion. Despite experiencing a steep 88.7% decline from its all-time high of $0.00008616 in October 2021, Shiba Inu maintains support above the EMA20 trend line. With the RSI hovering around 65 and the 20-day EMA on an upward trajectory, sellers currently find themselves without a clear advantage in the market.

So, if you’re ready to ride the Shiba wave, keep a close eye on this meme coin as it continues to make waves in the cryptocurrency world.