A respected crypto analyst, MMB Trader, predicts a major move for Shiba Inu after its long period of sideways trading. The analyst believes the token’s current calm before the storm indicates a potential breakout to significant price increases. While SHIB has seen a dip in value this year, the market is showing signs of resilience, with some analysts anticipating gains of up to 670% if SHIB overcomes resistance.
MMB Trader points out that Shiba Inu’s current range-bound price action may signal an upcoming surge. He emphasizes that this slow trading phase often precedes explosive rallies in cryptocurrencies, suggesting a potential turning point for the token. His analysis highlights a key breakout level around $0.00001740, which he believes will act as confirmation of a trend reversal.
Technical analysis indicates that SHIB is currently within a long-term descending trendline dating back to March 2024. If Shiba Inu manages to break this resistance and retest the level, it could indicate a positive shift in the market sentiment, setting the stage for significant gains. MMB Trader’s target prices suggest a potential rally of over 670% if SHIB manages to reclaim bullish momentum.
“Patience may pay off, as analysts see SHIB preparing for a strong rebound,” states MMB Trader.
Tags: #ShibaInu, #Altcoin, #CryptoMarket