- Shiba Inu (SHIB) shows strong signs of recovery since the latest market dip.
- Analyst expects SHIB price to spike by 405% in the coming months.
- SHIB could likely print a 5x price pump to hit $0.000081.
The latest crypto market dump caused by Mt. Gox and the German government selling their Bitcoin (BTC) seems to have finally settled down. With Bitcoin (BTC) recovering from a $53,000 dump to now a higher low of $56,000, altcoins are also rallying steadily.
Bullish sentiment has so far been crushed with FUD leading to bear market expectation. With the market at massive lows and liquidations since the FTX collapse, this is a challenging time for a bull market to pull through.
Yet, many analysts, traders, and seasoned investors remain unshaken. Many see this dip as a gift to accumulate more and prepare for the upcoming golden bull cycle. The coming bull phase is expected to see Bitcoin at $100,000 and above.
Similarly, altcoins are also expected to make significant upside movements leading to new ATHs for many new and popular crypto tokens. As analysts observe altcoin price charts to determine which altcoin will go up next and by how much, Shiba Inu (SHIB) is at the top of the list.
According to one analyst, Shiba Inu (SHIB) could hit $0.000081 price. In his eyes, this target and the possibility of hitting it has not changed for SHIB. He says that prices will continue to hold for SHIB and the asset has broken through a key resistance level and is holding this upward trend.
This means that Shiba Inu (SHIB) could make a massive comeback from its current price. According to CoinMarketCap analytics, the price of SHIB presently stands at $0.000015 and is up by 11% in the last 24 hours.
This shows the altcoins ability to recover quickly despite the low market sentiment and heavy Bitcoin price dip. Lastly, the analyst says that SHIB is now prepared to make what could possibly amount to a price spike of over 405% this bull run from its current price. Will SHIB pull a 5x price pump soon?
Read Also
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
