Shiba Inu Skyrocketing Potential: Could SHIB Surge 500%?

Christian Encila

9 months ago

3 mins read

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Shiba Inu (SHIB) may be gearing up for a massive spike as cryptocurrency analysts are divided on what could come next. Javon Marks, one popular social media member in the crypto-verse, has taken to X, formerly known as Twitter, with some very bullish comments that SHIB is on the brink of a major breakout.

According to Marks, a serious price pattern has been forming that suggests SHIB could be getting ready for an explosive move higher. At the same time, though, another analyst, Alan Santana, suggests this current market phase is not going to rally but gives way as an opportunity for long-term accumulation only.

The Falling Wedge Pattern

Marks is optimistic due to the formation of what is known as a Falling Wedge pattern, which usually forms as a bullish reversal. This wedge has been emerging for many months, and SHIB is now reaching the point where a breakout could occur.

$SHIB (Shiba Inu)’s ≈6X:

Prices of Shiba are currently nearing the converging or breakout point of a massive Falling Wedge pattern on the daily (1d Chart) and with a recent confirmation of a Regular Bullish Divergence, this can be pointing to a bullish breakout!

This can spark… pic.twitter.com/sAUSyrH4q0

— JAVON⚡️MARKS (@JavonTM1) August 17, 2024

Marks said that the narrowing price action inside the wedge indicates a big price shift might be due. Should SHIB break out, Marks assigns a target price of $0.000081, which would be an incredible 498% higher from current levels.

Rising Investor Interest In Shiba Inu

Currently, SHIB stands at a price that is close to $0.000013, which signals that it is worth over 1% more in the last day. The insignificance of this price jump may serve as a rebounding sign for SHIB, which jumps to 25% from the lows of $0.000010 not too long ago.

SHIB market cap currently at $7.7 billion. Chart: TradingView

But not everyone is swayed that SHIB will experience such drastic moves in the short run. For example, Alan Santana, a respected crypto analyst, is a bit more level-headed.

✴️ Shiba Inu Pre-2025 Bull-Market Accumulation Zone & Strategy

Please, let me start by saying that the all-time high potential is based on the current price. Since Shiba Inu can move lower within the “accumulation zone,” by the end of the upcoming bull-market total growth… pic.twitter.com/fLdTbOGQvm

— Alan Santana (@lamatrades1111) August 17, 2024

Santana holds his opinion that SHIB is within an active correction phase, which is likely to further slash its price before any substantial gains can be accrued. A sideways move and consolidation period shall be the best move for long-term investors in this case.

Accumulation Zone And Long-Term Strategy

Santana noted that the prevailing range is an accumulation zone—where patient investors are able to build their SHIB positions at lower levels before the token is reclaimed at parity.

He sees SHIB rising by a factor of around 20 to 25 times from its current price by the peak of the next bull run in much the same way. According to him, this would only happen after 2025. For those looking to gain from a long perspective, Santana says patience is the name of the game.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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