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Shiba Inu Price Closes 3rd Consecutive Green Week, Why This Analyst Predicts 1,479% Surge To ATHs
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Shiba Inu Price Closes 3rd Consecutive Green Week, Why This Analyst Predicts 1,479% Surge To ATHs

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

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Despite not being in the spotlight recently like its counterpart Dogecoin, the Shiba Inu price has managed to exceed expectations and close three consecutive green weeks. The meme coin is showing signs of bullish continuation after a long stretch of consolidation, and a resulting breakout from such momentum could be enormous. To put it plainly, its 2024 400% breakout could pale in comparison to what is coming if Shiba Inu manages to complete its breakout.

Shiba Inu Green Closes Point To Bullishness

A pseudonymous crypto analyst has pointed out some interesting formations in the Shiba Inu price chart, which seem to have gone under the radar. For example, the Shiba Inu price has marked its 3rd consecutive weekly close and continues to flash signs of more price increases. With the most recent break and close in the green, Shiba Inu is now looking to break above its long-term support.

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XRP Price Ready To Reach $8 As Consolidation Breaks – Here’s The Timeline

1 month ago

Currently, the Shiba Inu price is still trading above its August 2024 low before its 400% breakout. This suggests that the meme coin could be on the ground floor of something extraordinary, especially as the majority of its investors sit underwater, according to data from IntoTheBlock.

If this bullish momentum is maintained, the crypto analyst sees the meme coin rallying to brand-new all-time highs. The first target is @0.000139, which would be an 894% rally from its current level, as well as 50% higher than its current peak of $0.00008. Another more bullish target is that the Shiba Inu price could reach as high as $0.000220. This is a 1,479% increase in price and 150% higher than the current all-time high.

Shiba Inu price
Source: TradingView

The post read:

We will have to wait and see, it is too early but the market is turning green now and will continue to trade green. It can happen that it go higher rather than lower based on the chart. It can happen that rather than overestimating the potential of this pair, we are underestimating it, this too would be good, the more it grows the better it gets.

The Other Side For The Shiba Inu Price

While the fact that the Shiba Inu price closed three weeks with green candles is commendable, it is possible that this might not end well for the meme coin. Looking back to November-December 2024, which is the last time that SHIB saw three consecutive green weekly closes, what followed was catastrophic.

Shiba Inu price chart from TradingView.com
SHIB weekly closes show more red than green | Source: SHIBUSDT on TradingView.com

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Ethereum

Ethereum Price Reaches Last H1 Support, Next Major Resistance Comes Into View

1 month ago

The price went on a rapid downtrend with three red weekly closes following the three green weekly closes. The following weeks were not much better as the Shiba Inu price only saw one green weekly close in eight weeks. Therefore, if this were to repeat this time around, then it is possible that the SHIB price could see a downtrend before picking back up.

Featured image from 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
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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