- Despite the current challenging market conditions, Shiba Inu (SHIB) is showing resistance with a 5% increase in the last 24 hours, with its price at $0.00000827.
- Famed analyst Alan Santana predicts a potential rally for SHIB in the coming days, with a possibility of a staggering 200% increase.
- According to this theory, SHIB could reach $0.00001600 levels in a short time, but this would require Bitcoin (BTC) to move or maintain a certain support level.
In the midst of a tumultuous period for the cryptocurrency market, Shiba Inu (SHIB) is demonstrating resilience with a 5% rise in the last 24 hours, bringing its price to $0.00000827. Renowned analyst Alan Santana anticipates a significant rally for SHIB in the near future, with the potential for an impressive 200% surge. However, for this to occur, Bitcoin (BTC) would need to either move or sustain a certain support level.
Shiba Inu (SHIB) Price Forecast
Currently, SHIB has shown resistance to the downturn by rising 5% in the last 24 hours, indicating that measures are being taken to change the situation. Despite this increase, which brought SHIB back to the $0.00000827 level, the traces of the 14% drop experienced in the last seven days have not been completely erased. However, a well-known analyst suggests that these traces could soon be wiped out.
Esteemed cryptocurrency analyst Alan Santana has put forth a very optimistic scenario for SHIB. The analyst interpreted the drop on August 17 as a bottom and emphasized that this is currently an insurmountable support.
The renowned cryptocurrency analyst stated in his remarks that the SHIB price could experience a new rally in the coming days. The analyst expects an incredible 200% increase, based on his Elliot wave analysis, with the key date being August 23.
Process Continues for SHIB
According to this theory, SHIB could reach levels of $0.00001600 in a short time. This could potentially allow SHIB to enter the top 10. However, of course, this would require BTC to either move or maintain a certain support level.
The painful process for the cryptocurrency sector is not over yet, but the positive SHIB forecasts could bring a smile to investors’ faces.
Conclusion
Despite the ongoing challenges in the cryptocurrency market, Shiba Inu (SHIB) is showing resilience with a 5% increase in the last 24 hours. Renowned analyst Alan Santana predicts a significant rally for SHIB in the near future, with the potential for an impressive 200% surge. However, this would require Bitcoin (BTC) to either move or maintain a certain support level. The process continues for SHIB, and the positive forecasts could bring a smile to investors’ faces.
