Is Shiba Inu (SHIB) set for a significant price increase? According to the Elliott Wave Theory and insights from prominent analysts, SHIB’s price could surge to $0.00045 in the coming months.
Currently in the early stage of the third wave, SHIB might break its previous all-time high and see a remarkable increase of approximately 17.5 times its current value.
Explore the detailed predictions and stay updated with the latest SHIB news here.
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SHIB Price: Potential Surge to $0.00045
The price of Shiba Inu (SHIB) rose to around $0.0000295 on the 29th of this month, and some analysts are predicting further price increases in the future.
One such analyst is CAPT. PARA8OLIC TOBLERONE (@CaptToblerone) with over 43,000 followers on X (formerly Twitter). He predicts a further rise in SHIB’s price based on the Elliott Wave Theory, anticipating significant growth in the coming months.
The Elliott Wave Theory, developed and discovered in 1938 by American stock analyst Ralph Nelson Elliott, is a long-standing chart theory. It posits that market trends move in a cycle of five upward waves and three downward waves.
CAPT. PARA8OLIC TOBLERONE applies this theory to SHIB’s chart for his price predictions. In his recent post, he forecasts that "SHIB’s price could reach $0.00045 during the fifth wave of the current cycle."
Current Stage of SHIB: "Early Stage of the Third Wave"
According to his predictions, SHIB is currently in the "early stage of the third wave" following the adjustment phase of the second wave.
The third wave is expected to continue until around August 2024, with the price rising to $0.00022. This period will likely see gradual price increases with some short-term declines.
SHIB’s all-time high was recorded at $0.00008 at the end of October 2021. If his prediction holds true, SHIB will surpass this previous high during the third wave.
After the third wave concludes, a short-term adjustment period, or the "fourth wave," will occur. This will be followed by the fifth wave, during which SHIB is expected to reach a new high of $0.00045.
SHIB Price Could Increase by Approximately 17.5 Times if Predictions Hold True
At the time of writing, SHIB’s price is $0.0000258. A rise to $0.00045 represents a "price increase of approximately 1644%, making the price about 17.5 times higher."
Many analysts predict a rise in SHIB’s price. Crypto analyst and trader Xanrox predicted a "more than 300% increase in SHIB’s price" in March this year.
Furthermore, davie satoshi (@NFTdavie) with over 12,000 followers on X, mentioned in a post on the 17th of this month that "after looking at SHIB’s chart and its beautiful rising pennant, I realized there is a hidden gold mine in front of us."
>> For the latest news on SHIB, stay tuned here
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