Shiba Inu Gains Momentum: Analysts Predict Massive Rally Ahead

Shiba Inu (SHIB), the second-largest meme coin by market cap, has been enjoying a strong rally lately, according to market analyst StrongHedge. Recent price action supports this claim. SHIB jumped by an impressive 8% over the past week, marking its third straight week of gains.

Bitcoin’s Surge Fuels Shiba Inu’s Momentum

StrongHedge also pointed out that Bitcoin’s resurgence is a key factor behind Shiba Inu’s recent upswing. Since hitting a low of $74,393 in early April, Bitcoin has surged roughly 27%, now hovering around $95,000. This broader market recovery has helped drive SHIB's bullish trend.

Following Bitcoin’s rebound, Shiba Inu has regained significant traction, climbing 36% from its intra-month low of $0.00001029. This strong performance has fueled fresh speculation that SHIB could soar to new highs before the current bull cycle ends.

StrongHedge’s Bold Prediction for SHIB

StrongHedge’s analysis suggests Shiba Inu could soon see a breakout. He highlighted that SHIB bounced off a key accumulation zone after rejecting lower prices on April 9, setting the stage for a powerful upward move.

According to his forecast, SHIB could rally 114% to reach $0.00003, a level it last touched back in December. He also identified two critical resistance areas that SHIB must overcome: the first around February’s high of $0.00001734, and the second near $0.000024, a former support zone that has now turned into resistance after multiple rejections in December and January.

Other Experts Share Bullish Views on Shiba Inu

StrongHedge’s optimistic outlook aligns with other analysts who foresee explosive growth for Shiba Inu. CryptoELITES recently predicted a staggering 16x rally for SHIB, suggesting the meme coin is forming a symmetrical triangle pattern, often a precursor to a major breakout. According to their projections, SHIB could skyrocket to $0.000230, a jaw-dropping 1,542% increase from its current price.

Meanwhile, another analyst, SABoikie, also shared a similarly bullish forecast. Citing a potential fractal pattern repetition, SABoikie believes SHIB could surge to $0.00010, emphasizing that Shiba Inu remains a strong buy opportunity even now.

Current Market Status

As of now, Shiba Inu is trading around $0.0000140, up 3.57% over the past 24 hours, showing strong signs of continued momentum.