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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Shiba Inu Elliot Wave Count Falls Into Place, Here’s Where The Bullish Wave 4 Says The Price Is Headed

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Shiba Inu

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Crypto analyst Capt Toblerone recently provided insights into the Shiba Inu (SHIB) future trajectory using the Elliot Wave Theory. This suggested that the meme coin’s recent price correction was simply part of a bigger picture, with the analyst predicting the meme coin will hit a new all-time high (ATH) on its next leg up. 

SHIB’s Price Is Headed Towards $0.00022

Capt Toblerone shared a Shiba Inu chart on his X (formerly Twitter) platform, which showed that Shiba Inu will rise to as high as $0.00022000 when Wave 3 of the five-way sequence takes place. The chart shows that Wave 2 of the sequence was currently taking place, with SHIB witnessing a corrective move. 

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A rise to $0.00022000 would create a new all-time high (ATH) for the second-largest meme coin by market cap, with its current ATH at $0.00008845. Capt Toblerone’s analysis also showed that Shiba Inu could hit this new ATH by September this year. Interstingly, Shiba Inu’s price isn’t expected to peak there, as the chart also showed that the meme coin could hit another ATH when Wave 5, which is also a bullish move, takes place later on. 

In the meantime, SHIB is facing corrective Wave 2, with the meme coin declining by over 7% in the last 24 hours. This follows its recent impressive price rally when it gained over 15% and even flipped Cardano to become the tenth-largest crypto token by market cap. 

Although Shiba Inu has once again dropped out of the top 10 rankings with its recent price decline, the meme coin could easily break into it again if it eventually rises to $0.00022, as Capt Toblerone predicts. Shiba Inu undoubtedly has the bullish momentum to enjoy such price gain since this bull run is expected to be a meme supercycle. 

Bitcoin Analyst Is Also Bullish On Shiba Inu

Crypto analyst and early Bitcoin investor Jeremie Davinci recently reaffirmed his bullish sentiment toward Shiba Inu. He mentioned in an X post that the meme coin will break out and rise to as high as $0.00006000 when this downward trend is over. He further revealed that he will be looking to accumulate more SHIBShiba Inuas he sees an opportunity to make money. 

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Crypto analyst Oscar Ramos also recently mentioned that SHIB is set to run to its current ATH and “beyond.” He added that the meme coin is ready to shed another zero and rise to $0.0001. The crypto analyst had previously highlighted this price level as his target for Shiba Inu in this bull run. 

At the time of writing, Shiba Inu is trading at around $0.00002604, down in the last 24 hours, according to data from CoinMarketCap. 

Shiba Inu price chart from Tradingview.com
SHIB price succumbs to downtrend | Source: SHIBUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
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