Expert Now Predicts Shiba Inu Is About To Surpass Its All-Time High

An expert now predicts Shiba Inu is about to surpass its all-time high set in 2020/2021 within this market cycle.

With a blend of favorable macroeconomic conditions and political changes, the cryptocurrency market is buzzing with optimism, drawing attention to potential new highs for major assets.

Recently, a prominent market commentator has added to this excitement regarding Shiba Inu, a popular meme coin inspired by the Shiba Inu dog breed.

Shiba Inu’s Path to New Heights

Known as “CRYPTO SHERIFF,” this analyst believes that SHIB will break through its previous all-time high of $0.00008616 as the current bull market progresses.

In a post on X (formerly Twitter) dated December 15, the influencer described the token’s ascent as “inevitable,” further fueling investor enthusiasm.

This bullish outlook comes on the heels of SHIB’s impressive rally in November 2024, which was spurred by Donald Trump’s election victory that many expect to usher in a pro-crypto environment in the United States.

During this period, SHIB skyrocketed nearly 98%, climbing from $0.00001687 to a peak of approximately $0.00003343.

However, as of now, the token has retraced some of those gains, currently trading around $0.00002694.

Strong Confidence in SHIB’s Future

CRYPTO SHERIFF is not alone in his optimistic assessment of SHIB.

Another crypto analyst, known as “CryptoELITES,” recently suggested that the token could soar to $0.0004729, indicating a staggering potential increase of nearly 1,700% from its current price.

This prediction is based on the emergence of a bullish cup and handle pattern on SHIB’s weekly candle chart, which could signal a significant upward movement if the token can break above a long-standing downtrend line acting as resistance since October 2021.

Similarly, another analyst, “PouyanTradeFX,” provided a cautionary perspective, stating that if SHIB fails to breach this downtrend line, it could face a potential decline of 150%, dropping to around $0.000011.

In summary, the general sentiment among analysts seems to lean toward a bullish outlook for Shiba Inu, suggesting that strong investor confidence could pave the way for the token to achieve new all-time highs in this market cycle.

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Also Read: Shiba Inu Sees A Surge In Popularity Now Welcoming 7,548 New Wallets

About The Author

Frank Nez

Frank Nez is an American journalist whose research has been cited by SEC and Congressional reports. Frank Nez has been featured by prominent outlets such as TheStreet and NewsBreak. ‘Daily Crypto News’ is now an official CoinMarketCap news source.

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