Shiba Inu Price Surge Expected to Reach 200%
The surge in global liquidity, combined with the breakout of SHIB's falling channel, has many believing that the coin is poised for a major price increase, with some predicting a potential 200% surge, and others expecting a 98% rally, as the crypto market continues to react to the influx of money.
A potential 200% surge for Shiba Inu (SHIB) is predicted by veteran trader MMB Trader, based on historical support and key daily support zones, with the current price at $0.00001252 and a possible rise to $0.000037.
The analyst points to SHIB's price movements in 2021 and 2024, which saw significant increases and retraction, and notes that the next resistance level is at $0.00002562. A further rise could occur if the red resistance zone breaks to the upside. Prominent trader Lars Kooistra also shared a positive outlook on SHIB, citing the TCT model 1 accumulation schematic and a noticeable price correlation with XRP.
The long-term holding behavior, as seen in IntoTheBlock's ownership data, further complements the bullish narrative, with an increase in long-term holders and a decline in short-term traders. Additionally, the Shiba Inu price has broken out of a falling channel, suggesting a potential bullish reversal, with a possible 98% increase from its current price to $0.00002495.
The global M2 money supply has reached $90 trillion, which has historically correlated with a surge in crypto prices. With central banks pumping money into the economy, risk-on assets like SHIB tend to go parabolic. If the breakout holds, SHIB price could aim for its 2025 highs, but if it fails, it could retest support levels around $0.00001172 or drop to $0.00000950-$0.00001050.
As the crypto market continues to evolve, the potential for a significant surge in SHIB's price is gaining attention, with many analysts and traders predicting a bullish reversal, and the current price movement suggesting a possible breakout.