Analyst Davie sees Shiba Inu as an untapped gold mine for significant returns in both short and long terms. His revelation occurred while analyzing Shiba Inu’s chart pattern, uncovering a promising bullish configuration.
Davie, previously hesitant to consider predictive signals from Shiba Inu’s price charts, disclosed observing a bullish pennant on Shiba Inu’s chart. This realization marked a significant shift in his perspective, recognizing Shiba Inu as a potential gold mine that had been under his radar all along. A bullish pennant formation indicates a potential continuation of an upward trend in the price of an asset.
Short-Term Projection
Davie emphasized the short-term upside from the observation, noting a promising outlook for Shiba Inu’s price surpassing $0.00005 when the bulls re-emerge. With SHIB presently at $0.00002475, the target suggests a potential 102% short-term rally in sight.
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Bunny Boy predicts Shiba Inu could surge by a substantial 600% in a second-phase rally, possibly occurring within three weeks. This bold projection stems from Shiba Inu’s previous surge of 373% in less than ten days between late February and early March.
Additional Analyst Insights
Other analysts, including Eunice Wong, have also recognized the bullish pennant formation on the Shiba Inu chart. Wong proposed a 409% surge, taking SHIB to $0.000125.
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At present, Shiba Inu trades at $0.00002475, reflecting a 2.5% dip over the past day. However, SHIB preserves a 6% gain from the Bitcoin-influenced rally of the last 48 hours.
Davie’s recognition of Shiba Inu’s potential, along with projections from other analysts, suggests a bullish outlook for the cryptocurrency, with both short-term and long-term gains on the horizon.
