Shiba Inu, is making efforts to recoup the losses of the last two weeks. During the overall market correction, the asset experienced a decline of 14.72% from March 11-24. However, the recent recovery has helped SHIB recoup some of its losses and is up 10.68% this week.
Amidst this recovery, SHIB entered an uptrend, showing strong momentum. According to Javon Marks’ statements, this latest upward momentum indicates a potential similar to the impressive rises observed from late February to early March.
Data showing the Shiba Inu’s impressive strength shows that the asset has well surpassed the 16-month bearish resistance trend in the crypto market. This downtrend occurred at SHIB’s all-time high of $0.00008845.
Data obtained from the attached chart according to, the price of Shiba Inu is trending well above the long-standing downward resistance trend in the cryptocurrency. This downtrend started from SHIB’s all-time high at $0.00008845.
$SHIB (Shiba Inu) has returned with signs of major strength here and can be ready for another massive leg up towards the $0.000081 target!
With prices remaining broken out of the displayed resisting trend and showing substantial progress since, another +141% upside to reach this… https://t.co/ndjcoduVZ9 pic.twitter.com/IYBxliQMnf
NEWS CONTINUES BELOW— JAVON⚡️MARKS (@JavonTM1) March 28, 2024
However, this past January, the Shiba Inu price finally broke this resistance, surpassing $0.00001590. After the decline in June 2023, SHIB tested the trend line again and after this test, it broke through the downtrend and began to increase its price.
Amid this continued upward momentum, another 141% potential price increase is projected for the Shiba Inu, according to Javon. Looking at the charts, it appears that this rise will allow SHIB to regain the $0.000081 price zone and regain the all-time high of $0.00008845.
According to the analyst, as we reported as Koinfinans.com, a price pump of $0.000081 is believed to be just a matter of time. However, the analyst thinks Javon’s forecasts extend beyond this region and that SHIB has further growth potential. The recent 14% pullback is believed to have increased market strength.
Shiba Inu Wants to Reach $0.0001553
Javon states that this strength could allow Shiba Inu to make a 90% rally, essentially pushing the asset as high as $0.0001550 to reach a new all-time high. Many industry experts also express confidence in the Shiba Inu’s potential to reach the $0.0001 region.
However, according to IntoTheBlock data, the asset has several resistance levels to overcome before reaching these price targets. A total of 29.7 trillion SHIB tokens have been supplied from 87,810 addresses and they are facing the last resistance point between $ 0.000056 and $ 0.000131. This stands out as a significant obstacle that the Shiba Inu must overcome in order to progress.
Shiba Inu is currently trading at $0.0003105, down from its recent high of $0.00003262. Investors increased their interest in the market and increased the 24-hour trading volume by 16.28% to 1.74 billion dollars. Additionally, Open Interest (OI) increased by 1.56% to $108 million in the last 24 hours. This shows that the Shiba Inu is an asset of intense interest and investors have confidence in the market by taking positions on a large scale.
Source : The Crypto Basic