Renowned cryptocurrency enthusiast Dami Defi has shared his insights into the volatile world of Shiba Inu, a popular “meme coin”, predicting it might soon witness a significant surge, given the recent escalated demand within this peculiar niche of the market. Virus-like enthusiasm for meme coins is rife, and riding this wave of optimism, Defi asserts a potential increase of over 50% in Shiba Inu’s value in the near term.
The Shiba Inu (SHIB) has established itself as a major player amongst meme coins, drawing optimistic forecasts from a host of leading analysts within the cryptocurrency space. Despite a shaky start to the week, Defi holds a strong belief that this meme coin might experience an upswing in value in the short term.
According to Defi, Shiba Inu’s digital asset price has been tracing a descending wedge pattern on the daily timeline. If SHIB breaks free from this restrictive pattern, Defi anticipates a significant surge – over 50% to be precise – in its price. This would inflate the crypto asset’s value from its current price to a ballpark of $0.000035.
Defi’s forecast is in resonance with that of Ali Martinez, who projects the digital asset’s price trajectory through a descending parallel channel. While Defi envisages a possible 50% surge for Shiba Inu, Martinez anticipates a rise of over 20% in the near term. This 20% rise corresponds to a movement from the $0.00002444 price mark to the slightly loftier $0.00002954 level.
Martinez’s bullish sentiments extend further; he hypothesized that SHIB would escalate to $0.000072323, pointing to a ‘bull flag’ pattern shaping up on the daily chart, hinting at an upward movement in the near future. His confidence in a strong breakout spurred him to open a trade at around $0.000018343, aiming for Shiba Inu to reach his projected target.
Fuelled by the March rally, Martinez’s forecast indicates the potential for an even steeper growth curve for SHIB, thus providing a glimmer of hope to the investors in this ever-thriving market segment of digital currencies.
Shiba Inu’s marketing head, Lucie, chimed in on the discussion, remembering SHIB’s sharp rise from $0.000007 to $0.000088 in October 2021, reflecting a staggering growth of over 1,100%. She posits that with the significant reductions (“burns”) and wider adoption within the SHIB ecosystem today, there is a likelihood of the asset reiterating this historical growth trend, or even surpassing it in this bull cycle.
Lucie highlighted the constant support from the fervent SHIB community and the solid Shibarium ecosystem since 2021, both of which, she believes, could act as catalysts for Shiba Inu’s growth. At the time this story went to press, SHIB was listed at $0.00002366, indicating a steady upward trend with an increase of over 4% over the past week. Despite a modest decrease in its market cap by 2.59%, its trading volume demonstrated a sturdy growth of 1.79% within the past day. With such robust momentum within the meme coin market, it might not be too far-fetched to anticipate further gains for SHIB in the approaching months.
Be the first to comment