Analyst Predicts Shiba Inu Could Rally 700% in Bullish Phase

• Shiba Inu enters a confirmed bullish zone, opening potential for higher targets.
• Analyst highlights entry opportunities as SHIB aims for a 700% increase, with spot and leveraged trading options.

According to Alan Santana, a well-known crypto analyst on TradingView, Shiba Inu (SHIB) has officially entered a bullish zone, indicating a bullish trend for this popular meme coin. Santana observes that recent movements of SHIB reflect a positive inclination.

“SHIB is in the bullish zone right now. Bullish inclination reaffirmed,” he said, stressing that the present situation makes more price goals possible.

Santana Highlights SHIB Bullish Zone and Strategic Entry Points 

Santana says that between June and November 2024, SHIB experienced a reorganization phase. Prices varied during this time, which permitted accumulation but not a notable uptrend. Santana’s chart analysis reveals a blue line-marked important baseline.

Source: Alan Santana on X

SHIB is in ultra-bullish territory above this line; positions below still show bullish sentiment but indicate a return to the consolidation or accumulation zone.

Given SHIB is currently solidly in the bullish zone, Santana’s view suggests perhaps greater gains. Any adjustment or retracing in price should be seen as an entrance point for long positions. “We target higher prices now that SHIB is in a bullish zone,” he said.

Santana notes he usually deals SHIB in spot markets, but he also employs leverage on some pairings, between 2-4X, to increase possible gains. He cautioned but said, “A nice and easy 700% wave can turn into 2,800% with 4X leverage.” Such transactions entail more risk, though.

Santana Advises Spot Trading for Reduced Risk and Long-Term Stability 

Santana also counsels people who want a more steady method to concentrate on spot trading, in which case actual tokens are held. Investors keep their assets under this approach regardless of price swings, therefore lowering risk.

Long-term holders should use this strategy, in his opinion: “In the worst-case situation, we simply wait. Santana pointed out that all other possibilities would be decent in relation. A long-term drop would entail only waiting for a comeback for him; favorable scenarios would let him benefit as prices climb.

Meanwhile, SHIB is trading at about $0.000025 at the time of writing, having gained an amazing 41.85% over the last 7 days and raised its market cap above $15 billion.

On the other hand, under Shytoshi Kusama, Shiba Inu’s development team is also working to enhance the fundamental worth of the project.

Previously, CNF reported that Kusama has suggested building a “Strategic Hub for Innovation and Blockchain (S.H.I.B)” in a U.S. city. The project seeks to create the United States as a worldwide center for sustainable development and blockchain technologies, therefore enhancing the value proposition and appeal of SHIB.

Although Santana implies that the rally could go even farther, his analysis provides possible targets for SHIB, including gains of 100%, 410%, and even up to 700% based on current trends.