An analyst who correctly predicted the Shiba Inu’s debut in 2021 has once again made optimistic predictions about the future of the popular meme coin. Rafaela Ligo suggested that a pattern observed in the past could repeat and the SHIB price could rise significantly. However, there is currently a slight decline in the meme coin price and volatility in the crypto market should be taken into account. Here are the details…
Shiba Inu Repeats Pattern 2021
Shiba Inu has become a frequently discussed and notable asset in the cryptocurrency market. Analysts such as Rafaela Ligo make predictions about the future by taking into account the Shiba Inu’s past performance.
Analysis in cryptocurrency markets is considered an important tool that can be used to predict future behavior of past price movements. In this context, analyst Rafaela Ligo’s comparison of the Shiba Inu’s current price movements with its behavior during the bull run in 2021 is of significant note.
In September 2021, SHIB faced strong resistance at the price level of $0.0000095. This resistance was retested multiple times before a significant price decline occurred. However, in October 2021, SHIB managed to successfully overcome this resistance level, resulting in an impressive increase within a month, an increase of 1,164%.
Rafaela Ligo to the analysis According to the report, it is predicted that the meme coin could follow a similar trajectory in the current bull market and could potentially be poised for more gains. This analysis indicates that SHIB may be on the verge of breaking the $0.000032 resistance in the coming period.
If a past scenario is repeated, this breakout could lead to a significant increase in the price of the Shiba Inu. The analysis predicts SHIB will reach $0.0001402, with a potential increase of 2.015%.
Additionally, the bullish sentiment towards Shiba Inu (SHIB) is supported by a recent report from CryptoQuant that points to significant outflows of SHIB from exchanges over the past seven days. Crypto exit from exchanges is seen as a bullish signal as it reduces immediate selling pressure.
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