Shiba Inu Price To $0.000081 Goal: Analyst Forecasts The Catalyst Behind It

A recent bullish price goal has been set for the Shiba Inu price, with an analyst revealing the foremost trigger that might push this top meme coin to the $0.000081 level. This optimistic price forecast follows recent substantial gains experienced by Shiba Inu, indicating a possible for a significant rally.

Shiba Inu Price Path To A $0.000081

Popular crypto analyst, Javon Marks, took to X (formerly Twitter) on October 28, to announce that Shiba Inu, the second-largest meme coin by market capitalization is now in a breakout phase. Already, several bull patterns have been spotted, suggesting that SHIB might be gearing up for an additional huge uptrend, or because the analyst puts it, “it’s next leg of immense bullishness.”

Reflecting on the Shiba Inu price motion via an in depth chart, Marks has forecasted a recent goal of $0.000081 for the cryptocurrency. This price goal is just shy of Shiba Inu’s current All-Time High (ATH) of $0.000086, which was achieved in 2021 throughout the last bull market.

Source: X

Furthermore, Marks has revealed that for the Shiba Inu price to succeed in the projected goal of $0.000081, the meme coin can have to experience a large 351% increase from its current price. The first catalyst set to drive Shiba Inu towards this bullish goal is a continued breakout with the formation of multiple bullish patterns.

Based on Mark’s projection, the Shiba Inu price has the potential to make rapid gains, possibly reaching the $0.000081 goal at a quick pace if the present breakout momentum and bullish trends proceed. Already the meme coin is getting closer to previous price highs across the $0.00002 mark.

Interestingly, this isn’t the primary time that Marks has made this bullish prediction for Shiba Inu. Earlier on October 11, the analyst revealed that SHIB was preparing to hit $0.000081 after breaking out of a Falling Wedge Pattern and a major resistance trend. The analyst revealed that this Falling Wedge break is ready to be the spark behind SHIB’s rise to recent price levels.

SHIB Shows Strong Price Motion With a 7% Rally

While analysts predict bullish price targets for Shiba Inu, the meme coin has been on a significant upward trend, experiencing strong momentum amidst broader market volatility. Data from CoinMarketCap has revealed that the Shiba Inu price has increased by roughly 7.63% within the last 24 hours.

The cryptocurrency looks to still be on the rise, with day by day trading volume soaring by a powerful 181.43%. This massive increase in each price and trading metrics suggests renewed confidence and interest from investors in Shiba Inu.

Coinglass derivative data has also revealed that Shiba Inu’s volume is up by a whopping 209.2%, while its open interest has climbed by 16.33%. Moreover, on the time of writing, the price of Shiba Inu is trading at $0.000018.