Expert Predicts Shiba Inu (SHIB) Price Surge Towards $0.000011

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Shiba Inu (SHIB), the meme-inspired cryptocurrency, has seen a remarkable 1411% surge in its burn rate, removing 61 million SHIB tokens from circulation within the last 24 hours. This increase is due to progress made in Shibarium, Shiba Inu’s Layer-2 blockchain, and significant milestones surpassing 308.07 million total transactions. This makes the market more curious about the Coin’s next move at the $0.000011 zone. 

Despite facing a bearish market, Shiba Inu experienced a low of $0.000008522 but is now showing signs of a comeback with a 10.63% gain to $0.000009428.

Analyst Charts SHIB’s Trend Reversal Signal

Market analyst Ali Martinez identified a buy signal on the Shiba Inu chart using the TD Sequential indicator, known for identifying trend reversals. He further highlighted the indicator’s accuracy in forecasting SHIB price movements in the past and pointed out a current buy signal, indicating a potential upward movement.

Good Time To Invest in SHIB? Indicators Turn Buy Sign

The TD Sequential indicator had accurately signaled a buying opportunity for Shiba Inu in October, coinciding with a low point of around $0.0000066. This was followed by a bullish surge of 37.47% to $0.000009073 by November. Subsequently, the indicator recognized an exhausted rally, projecting a brief correction and leading to a 28.40% rally, reaching $0.00001165 by December 2023.

In the face of prolonged bearish trends, the TD Sequential indicator signals another buying opportunity for Shiba Inu. Here, Martinez foresees a breakout that could push SHIB to $0.000010 and encourages investors to watch for a potential move to the $0.000011 territory. Shiba Inu investors may see a 27.75% gain if this forecast materializes, given SHIB’s current market value of $0.000009119.

Current Scenario

Shiba Inu has witnessed a 3.89% price boost in the last 24 hours, hitting $0.000009323. The trading volume has surged by 52.89%, elevating its ranking to 19th with a market cap of $5.4 billion. Overall, Shiba Inu has been seen as a bullish outlook by primary prediction tools, and a good January close is proof of that. This could also lead to a better-than-expected performance in February.