Top Analyst Predicts Shiba Inu 114% Rally As SHIB Now Running Amid Bitcoin Resurgence

A prominent market analyst expects the recent Shiba Inu resurgence to continue, predicting further upside after a bounce from an accumulation zone. Specifically, watcher StrongHedge insisted in a recent commentary that Shiba Inu, the second-largest meme coin by market capitalization, has been on a good run lately. Notably, charts support this assertion, as SHIB surged an impressive 8% last week, marking its third consecutive week of positive price action. Bitcoin’s Resurgence a Catalyst Furthermore, the analyst tied part of Shiba Inu’s bullish momentum to Bitcoin’s resurgence. The crypto firstborn has increased by 27% since its low of $74,393 in early April to its current price of around $95,000, and StrongHedge believes this has contributed to the recent positive price run for SHIB. In truth, the dog-themed meme coin has regained momentum since Bitcoin’s rebound, rallying 36% from its intra-month bottom of $0.00001029. Notably, this recovery has sparked speculations that Shiba Inu will rally to new highs before the bull run ends. Notably, the bullish sentiments resonate with StrongHedge, which predicts a lower high price action on Shiba Inu’s daily chart. The prominent chart highlighted that SHIB bounced from an accumulation zone with its April 9 rejection of lower prices, contributing to the asset’s northward momentum. From here, the market watcher predicts a 114% rally to $0.00003, a price level that Shiba Inu last saw in December. He identified the target in an accompanying chart, highlighting two possible resistance levels for this uptrend.

First, his commentary suggested a supply zone around February’s high of $0.00001734. If SHIB breaches the level, it will face another impediment around $0.000024, a support-turned-resistance area where the token was rejected multiple times in December and January. Analysts Expect Strong Shiba Inu Rally Interestingly, StrongHedge’s analysis follows a commentary from CryptoELITES predicting a 16-fold Shiba Inu rally. The market watcher identified that the meme coin sits at a strong support zone in a forming symmetrical triangle, projecting a potential “big move” to $0.000230, a staggering 1,542% uptick from the current market price.

Moreover, analyst “SABoikie” predicted a similar parabolic expansion for SHIB. According to a report , he speculated on a possible surge to $0.00010, citing a potential fractal repetition. Nonetheless, the analyst insisted that Shiba Inu is a good buy from here, regardless. In the meantime, Shiba Inu trades at $0.0000140, up 3.57% from the past day.