Crypto strategist Maddox has shared an optimistic forecast for Shiba Inu, anticipating a significant price surge. This prediction aligns with SHIB overtaking Litecoin, securing the 18th position among the largest cryptocurrencies by market cap.
**Shiba Inu Targets a 126% Price Increase**
In a TradingView analysis, Maddox projected that Shiba Inu might climb by 126% to reach $0.0003579 from its current valuation. He highlighted that SHIB has shown confirmed weekly bullish divergence in the Relative Strength Index (RSI), and the leading meme cryptocurrency is now striving to break through the weekly 200EMA resistance.
Maddox also pointed out that a High Volume Node is situated just above the current level, and closing above it would indicate a bullish trend. Following this trend, Shiba Inu could reach the initial weekly pivot target of $0.00001774, with potential further movement to the $0.0000579 High Volume Node.
Additionally, Maddox observed that Shiba Inu has completed its retracement to the ‘alt-coin’ golden pocket 0.786 Fibonacci level. He mentioned a growing bearish divergence on the weekly RSI, but he believes this can be mitigated with a strong upward move. The analyst remains optimistic about SHIB’s prospects, calling this period a “MEME season.”
Maddox also remarked that Dogecoin appears poised for growth, and Shiba Inu is likely to follow due to the correlation between these leading meme coins by market cap. DOGE has increased by over 38% in the past week.
Shiba Inu has similarly gained over 16% during this timeframe. With the ongoing upward trend, SHIB has overtaken LTC, becoming the 18th largest cryptocurrency by market value, boasting a market cap of $8.89 billion.
**SHIB Poised to Reach $0.000032**
Crypto analyst Javon Marks earlier echoed Maddox’s outlook. In a post on X, he suggested that in the short term, based on confirmed data, Shiba Inu could reach $0.000032 in response to a bullish divergence. He noted that this 135% increase might only mark the beginning of a larger bullish reversal for the leading meme coin.
Another crypto analyst, Friedrich, speculated that Shiba Inu could revisit its all-time high (ATH) as part of this extensive bullish reversal. In an X post, he announced that SHIB is primed for a significant rise. He stated that with Ethereum gaining momentum, the meme coin is likely to retest its ATH of $0.00008845. His chart analysis indicated that SHIB could at least hit $0.00008032.
Currently, Shiba Inu trades at approximately $0.0000151, reflecting a decrease of over 3% in the past 24 hours, according to CoinMarketCap data.
