Shiba Inu A prominent analyst in the community predicted that SHIB could soon break the $0.000022 level as it remains in a long downtrend.
Over the past week, SHIB has trended downwards. Additionally, it could not regain the $0.00001 level it hit two weeks ago. Currently, the asset is trading around $0.000009629. Additionally, it has only increased by 1% in the last 24 hours.
However, analyst “SHIB KNIGHT” expressed absolute confidence about the path the asset could follow in the coming months.
Shiba Inu Will Reach $0.000022 in the Coming Months
SHIB KNIGHT went to X to inform him of an expected major release. The analyst first noted that SHIB’s current market position reflects a resistance point that the asset has been trying to overcome since August 2022.
He also presented a chart showing the one-week time frame of the Shiba Inu. It showed the entity’s past attempts to overcome this resistance.
The analyst highlighted that since June 2023, Shiba Inu has consistently formed higher lows without making a significant breakout despite relatively favorable market conditions.
However, SHIB KNIGHT now expresses much greater confidence that the Shiba Inu will break through the historical resistance range this season. “This time it is close to breaking resistance,” commented the leading analyst. found.
$SHIB can’t break this resistance since August ’22.
You can check the arrows for the breakout attempts.
The chart has been forming higher lows since June ’23, and the market is really good. It is close to break the resistance this time.
First target is 0.000022. Keep in mind that this… pic.twitter.com/57VuPRcJQ0
— $SHIB KNIGHT (@army_shiba) February 25, 2024
Additionally, SHIB KNIGHT argued that the coming months hold promising prospects.
The SHIB analyst noted that the first target SHIB enthusiasts can expect after a successful breakout is a rally towards $0.000022. However, he did not provide a specific timeline for when the $0.000022 target might be realized.
SHIB Will Rally 128.5%
meme coin It was last seen in the $0.000022 region around April 2022. While SHIB is trading at $0.000009629, a rise to $0.000022 represents a 128.5% rally. In other words, the analyst expects SHIB to surpass its 22-month high in the coming months.
Source : The Crypto Basic