Shiba Inu (SHIB) could soon witness a significant price rally, with crypto analyst Ali Martinez highlighting a bullish pattern forming on the meme coin’s chart. Shiba Inu’s price could potentially see a 150% gain when this rally happens.
A Bull Flag is Forming on SHIB’s Chart
Martinez mentioned in an X (formerly Twitter) post that Shiba Inu looks to be forming a bull flag on its daily chart. A bull flag is a bullish pattern that indicates that the crypto asset will soon see further moves to the upside. In anticipation of this move, the crypto analyst further revealed that he was placing a buy order around $0.000018343, aiming for a bullish breakout that would send Shiba Inu’s price to $0.000072323.
Source: X
Seeing that a rise to that price level represents about a 150% price gain for the meme coin, some of Martinez’s followers seemed skeptical about the prediction, with some jokingly asking the crypto analyst if his account was hacked again. Interestingly, this prediction is far from ambitious, considering that Martinez previously predicted that the meme coin could eventually rise to $0.011.
Meanwhile, those looking to jump on Martinez’s trade idea could also adopt Crypto analyst Crypto Noan’s profit-taking strategy if Shiba Inu doesn’t get to $0.000072323 as Martinez predicts. Noan highlighted four price levels at which SHIB investors should consider taking profit as the meme coin moves to the upside.
These price levels are $0.000028181, $0.000032816, $0.000039035, and $0.000043609. That means that all Noan’s take profit-targets will be filled on Shiba Inu’s potential rise to $0.000072323. Therefore, investors might want to consider securing some profits along the way.
Shiba Inu (SHIB) Price
At the time of writing, Shiba Inu (SHIB) is trading at around $0.00002196, with a 0.8% increase. The trading volume is $687,102,959 and the market capitalization is $13,650,283,390.
You can also buy Shiba Inu (SHIB) easily on Bitrue. Bitrue is dedicated to providing safe, convenient, and diversified services to meet all crypto needs, including trading, investing, purchasing, staking, borrowing, and more.
Source: CoinGecko
According to Bitcoinist, Shiba Inu rising to $0.00072323 looks like a real possibility, considering that crypto analyst and trader Xanrox hinted that the meme coin would rise to as high as $0.00008854 by July. Xanrox also predicted that Shiba Inu will record a 300% price gain before the end of this year. Therefore, a 150% move from its current price level could easily be attained.
Moreover, other crypto analysts like Javon Marks have predicted that SHIB could shed another zero and rise to as high as $0.0001553 in this bull run. Shiba already announced its intention to be one of the best-performing assets in this cycle, with a year-to-date (YTD) gain of over 100%.
Conclusion
Shiba Inu (SHIB) enthusiasts are optimistic about a potential price surge, with analysts foreseeing a significant rally. Crypto analyst Ali Martinez points out a bullish pattern on SHIB’s chart, suggesting a possible 150% gain in its price. Despite skepticism from some followers, Martinez’s prediction aligns with other analysts’ forecasts, indicating a bullish sentiment for SHIB’s future. Moreover, various profit-taking strategies are proposed to capitalize on SHIB’s upward movement, offering investors options to secure profits along the way. With ongoing discussions about SHIB’s potential rise, the meme coin aims to maintain its upward trajectory and solidify its position in the crypto market’s bull run.
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