Analyst Says Shiba Inu Uptrend Confirmed with Likely 830% Surge to $0.000155 to Follow

Prominent technical analyst Javon Marks has outlined how Shiba Inu could experience an 830% price surge this bull season amid crucial price pattern observations.

Shiba Inu has continued to show underwhelming price performance in recent weeks, which has worsened due to Bitcoin’s instability. At the time of reporting, Shiba Inu hovers around $0.00001674, crashing by 3% over the past. The asset also posts bearish trends in its weekly and monthly performance.

Meanwhile, well-known analyst Javon Marks has seen significant reasons to be bullish about Shiba Inu, projecting the likelihood of an incoming fourfold price surge.

Shiba Inu Uptrend Confirmed

In a recent update shared on X, Marks highlighted that SHIB has confirmed a major hidden bullish divergence based on its six-day relative strength index (RSI).

Image source: https://x.com/JavonTM1/status/1817268093095411777

He stressed that the development likely suggests a major recovery is on the horizon for Shiba Inu, which will continue the rally that commenced in Q1. Specifically, the analyst noted that based on the confirmation, Shiba Inu appears to be setting the stage for an initial 162% upswing.

Notably, this projected increase would bring Shiba Inu back to its March yearly high of $0.0000456. Interestingly, Marks noted that the bullish momentum would not lose steam this time. Once it emerges, it is expected to drive Shiba Inu to within range of its 2021 all-high at around $0.000081.

Shiba Inu Full Scale Surge up 830% Gain

The analyst pointed out that once the $0.000045 barrier has been recaptured, the $0.00008 range is the next significant resistance threshold for SHIB.

Notably, as Shiba Inu exchanges hands at $0.00001674, an upsurge of 383.87% is required to re-enter the $0.000081 price channel. Meanwhile, should SHIB reclaim its yearly high of $0.0000456, the path to $0.000081 becomes less challenging as it would require only a 77% price surge.

Marks believes that Shiba Inu’s success at the recapture of $0.000081 effectively sets the stage for more aggressive runs to discover new price territories. Among the lofty targets he has set his sights on include the $0.0001555 mark, which would offer a potential return of 830% for today’s investors.

Other analysts have conveyed similar observations in separate analyses. Some have even suggested that a surge of up to 1,000% is feasible for SHIB this season. It is worth noting that researchers have argued that the $0.00015 range is not a realistic target in this cycle.

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