Expert Davie believes that a big price increase could be on the way to Shiba Inu (SHIB). The value of the cryptocurrency might double because of a tightening coil pattern.
Recently, Satoshi used social media to offer his thoughts on the SHIB tightening coil pattern. He claims this trend suggests SHIB is preparing for a massive breakout that could double its current value.
Latest Market Activity for SHIB
Satoshi’s chart illustrates SHIB experienced a bearish trend between March and late May. This trend created a descending channel, with prices falling from approximately $0.000045 to $0.00002. However, in mid-May, SHIB broke above the declining channel, showing a possible bullish reversal.
SHIB’s was stable inside an ascending channel, despite this breakout, which worried market players. As of the time of writing, Shiba Inu has once again broken above its current channel, which is at $0.000025, showing the potential for a major increase.
The insights of Davie Satoshi
Analysts and investors have taken notice of this breakout, and experts like Satoshi are predicting a strong rally soon. Satoshi believes this phase could be the last chance for investors to invest before SHIB’s predicted price increase.
He added that the SHIB’s pattern usually foreshadows a significant rally, speculating that the token could soon double as much as it does now.
SHIB to $0.0000886
Meanwhile, market analyst Javon Marks said Shiba Inu could rally to $0.0000886 in its next upward move. This estimate suggests a significant 240% increase from the current price, perhaps pushing its price to its all-time high.
Marks stressed the importance of the $0.000081 level, describing it as a significant milestone. Reaching this level would represent a 210% increase over SHIB’s current market price.
He stated that exceeding this crucial level might pave the way for additional gains, with $0.0001553 being the next benchmark. Currently, SHIB is trading at roughly $0.00002592.
