Analyst FOUR forecasts that Shiba Inu (SHIB) will reach $0.00003260 sooner than anticipated, with the token showing strong bullish momentum. Over the past month, SHIB has surged by 30%, nearing the key resistance level at $0.00002169. Despite positive news for utility tokens, the meme coin sector, including SHIB, continues to thrive.
Currently the 13th-largest cryptocurrency by market cap, SHIB has shown impressive gains, outpaced only by Dogecoin among the top 15 assets. The pseudonymous analyst FOUR has generated buzz by predicting a swift rise to $0.00003260, suggesting a potential 71% increase from its current price.
FOUR’s optimistic outlook is based on SHIB’s 1-week chart, which signals sufficient bullish momentum to break past the $0.00002169 resistance level and move towards the $0.00003260 target. The recent weekly close, marked by a strong bullish candle near this resistance, further supports this prediction.
What Lies Ahead for Shiba Inu?
The analyst attributes SHIB’s potential rise to the ongoing “super” bullish cycle in the meme coin sector. IBC founder Mario Nawfal also acknowledges SHIB’s strong performance, emphasizing the broader upward trend within the meme coin market. This contrasts with the performance of utility tokens, even as developments like the SEC’s approval of options trading for Bitcoin spot ETFs make headlines.
While Bitcoin briefly hit $69,000 after the SEC news, meme coins like SHIB continue to draw significant attention and capital inflows.
