A prominent crypto analyst has projected that Shiba Inu (SHIB) could rise by more than 1,500%, stating that the current upward trend is still in its early stages. While much of the market’s attention remains on Bitcoin’s recent record highs , SHIB may be preparing for a major move of its own. According to crypto analyst MasterAnanda , Shiba Inu has not yet fully entered its bullish phase, positioning it as a potentially stronger play compared to assets that have already made significant gains. The analyst forecasts a rally that could erase another zero from SHIB’s price, taking it to previously unrecorded levels. SHIB Approaches a Potential Reversal After Prolonged Downtrend Shiba Inu’s price action over recent months has shown a consistent downtrend. Since its peak of $0.00004567 in March 2024, SHIB has experienced lower highs and lower lows, confirming a bearish structure. Following that peak, the token dropped to $0.00003074 and has remained within a descending triangle pattern ever since, with price action gravitating toward the lower boundary of the formation. However, recent market activity suggests that SHIB may be nearing a reversal. MasterAnanda pointed out that the token has posted a strong green weekly candle, indicating a possible shift in sentiment. Over the past week, SHIB has increased by approximately 19%, marking one of its strongest weekly performances since the first week of May, when it gained 25%. Despite the current price improvement, SHIB remains below the 200-day moving average (MA200), a key technical indicator used to determine overall trend direction. As long as the price remains under the MA200, which currently stands at $0.00001634, analysts generally view the broader trend as bearish. Breaking above this level would be a critical step in confirming sustained upward momentum. Analyst Targets Multiple Fibonacci Levels in 2025 Outlook MasterAnanda has outlined a set of potential price targets for Shiba Inu based on Fibonacci retracement and extension levels. The first target is $0.00003203, which corresponds to the 0.50 Fibonacci retracement level and would represent a breakout from the current triangle formation. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 If SHIB maintains its momentum, the next significant price levels are $0.00006767 (1.618 extension) and $0.0001032 (2.618 extension). The analyst regards $0.0001032 as the baseline for a new all-time high this cycle. Beyond that, the analysis includes further bullish targets: $0.0001743 and $0.000220491, which reflect the 3.618 and 4.618 Fibonacci extensions, respectively. These projections represent gains of approximately 1,183% and 1,529% from the current trading price of $0.00001360. Notably, this optimistic outlook aligns with previous assessments from other market commentators. Analyst Alan Santana previously suggested a similar potential breakout from SHIB’s descending triangle formation, reinforcing the view that substantial upside could still lie ahead for the meme-based token. While Shiba Inu has experienced a prolonged period of downward movement, current technical indicators and renewed market interest suggest a potential shift in trend. However, a confirmation above key resistance levels, particularly the 200-day moving average, remains essential before a sustained bullish trajectory can be validated. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Shiba Inu (SHIB) Poised for 1,529% Surge as Bullish Momentum Builds Up appeared first on Times Tabloid .
