Shiba Inu Price Prediction: SHIB Price Poised For 800% Rally In March – Here’s Why

The post Shiba Inu Price Prediction: SHIB Price Poised For 800% Rally In March – Here’s Why appeared first on Coinpedia Fintech News

According to the analyst, Shiba Inu, the second-largest meme coin, is gearing up for a significant rally. Lucie, a marketing specialist within the Shiba Inu ecosystem, just dropped some fascinating insights! 

Excited, let’s dive in. 

Historically SHIB can hit $$0.0001206, If!

Drawing parallel to the historical data analysts suggested a remarkable price rally. Lucie points to a momentous event during the 2021 bull run when Shiba Inu experienced an astonishing 800% surge within a week, despite the absence of any burns recorded at the time. 

She further suggests that gradual burns and high demand could drive Shiba Inu’s growth. Shibburn, a community-driven tracker, highlighted SHIB’s 2021 surge to increased demand. Vitalik Buterin’s burn of 410 trillion SHIB came after SHIB’s peak at $0.00003469, followed by a correction. Despite this, SHIB rebounded to reach an all-time high of $0.00008845 in October 2021. 

With Lucie’s insight, the excitement of Shib Community is at its peak and many believe SHIB will rally soon. Notable, the Shiba Inu coin has done great in an overall uptrend, rising by an impressive 23.5% in the last 24 hours.

In comparison, other major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have recorded more modest gains, with BTC up 9% and ETH up 5.43% within the same timeframe. However, Shiba Inu’s latest bullish momentum has outpaced them all, sparking renewed speculation about the cryptocurrency’s future trajectory.

However, SHEboshi’s launch and other community initiatives could be behind Shiba Inu’s current price hike. Even Coinglass data shows SHIB’s increasing trend. Open interest has also increased by 25.96% and trading volume to 127.11%.

Can SHIB Flip the Dynamics in March? 

Currently trading at $0.00001340, Shiba Inu’s potential for an 800% rally holds significant implications. If such a surge materialized, it could push SHIB to $0.0001206, effectively shedding one zero and establishing a new all-time high.

Conversely, if the market maintains Shiba Inu (SHIB) above the support level of $0.00001074, bullish momentum may resume again, targeting a retest of the resistance level at $0.00001142. Further, if the bulls hold the price at that level, it will set the stage for Shiba Inu Price to attempt to test its upper level of $0.00001197.

On the negative front, if bears take control, SHIB could face bearish pressure and test the support level of $0.00001012. Failure to regain momentum there could lead to a drop towards $0.00000971 shortly.

This tantalizing prospect has investors eagerly anticipating the potential for further gains, fueled by both market dynamics and community-driven initiatives. With the memory of Shiba Inu’s past rally fresh, many are optimistic about the cryptocurrency’s prospects in the weeks ahead.