Shiba Inu Confirms Bullish Pattern as Analyst Eyes 570% Rally

A popular crypto chartist speculates that Shiba Inu could be gearing up for a major rally toward the $0.000081 price region. In recent weeks, Shiba Inu holders have experienced losses, with SHIB’s price plunging in tandem with a broader market downturn. Shiba Inu, which reached a 30-day high of $0.00001417 on August 14, is currently trading at $0.00001228, marking a 13.3% decline.  Bullish Divergence Confirmed  However, analyst Javon Marks believes Shiba Inu’s downtrend could soon be a thing of the past. According to him, Shiba Inu has confirmed a bullish pattern in a regular bullish divergence with the MACD histogram — a momentum gauge that indicates trend changes.  For context, this bullish divergence occurs when an asset's price makes a lower low, while the MACD histogram makes higher lows. The setup suggests that SHIB’s downward momentum is waning, and the asset may be poised for an upward reversal.  Based on this bullish setup, Marks speculated that SHIB could rally 163% from its current levels, driving its price to the $0.00003 region.  With SHIB currently priced at $0.00001228, a 163% surge could see the token trade at $0.00003229. The last time SHIB traded around the $0.00003 region was in early December, following the re-election of President Donald Trump.  Interestingly, Marks suggested that Shiba Inu’s climb to $0.00003 may only be the beginning of a much larger upward movement. If the bullish momentum continues, the analyst predicts that Shiba Inu could surge over 570% toward the $0.000081 price level.

Mark’s $0.000081 Target  It is worth noting that Marks has maintained this $0.000081 target since last year. He has consistently updated his followers about Shiba Inu’s performance and the asset’s path to the $0.000081 target.  As in previous analyses , Marks did not share when the highly anticipated $0.000081 prediction would materialize. Achieving this target puts Shiba Inu closer toward reclaiming its peak price of $0.00008845.  Several analysts believe that Shiba Inu will surpass its previous peak price this year, with some projecting a climb to $0.0001 and beyond. At its current price of $0.00001228, Shiba Inu would need to climb 559% to reach Mark’s $0.000081 target and 623% to revisit its previous all-time high of $0.00008845.