Shiba Inu (SHIB) Price Prediction: Potential Doubling by Mid-December, Says Renowned Crypto Analyst

Explore the dynamic world of Shiba Inu (SHIB) cryptocurrency in this insightful article.

With predictions of a potential doubling in price by mid-December from a renowned analyst, and an in-depth analysis of target prices and market trends, this is a must-read for crypto enthusiasts.

Shiba Inu (SHIB) Eyes Price Surge: Could We See a 2x Increase by Mid-December?

Shiba Inu (SHIB), gaining attention through new initiatives and service launches, is now also seeing heightened expectations for a price increase in the SHIB cryptocurrency.

A notable cryptocurrency analyst, Captain Faibik (@CryptoFaibik), with over 70,000 followers on X (formerly Twitter), has repeatedly mentioned in recent posts that "SHIB's price could potentially double in the short term."

In a post dated November 9, 2023, Captain Faibik pointed out that "SHIB has already bottomed out and broken above a major trendline that has been ongoing since October 2021."

However, in a later post on November 15, he speculated that "SHIB is currently retesting, and if successful, we might see a bullish rally of up to 2x by mid-December."

Target Price: Could SHIB Hit $0.000017?

As for the target price in case of a successful break from the long-term downward trend, a price range around $0.000017 is being suggested.

This was a significant resistance level during the price surge in August 2022, and since then, the SHIB price has been fluctuating below $0.000016.

As of this writing, after peaking at approximately $0.0000096 earlier this month, SHIB's price has fallen, currently hovering around $0.0000086.

While caution is advised against potential declines, a substantial recovery could be seen if it successfully breaks out from the downward trend that has persisted since October 2021, making the upcoming price movements of SHIB a focal point of interest.