Ethereum

Shiba

2024

Shiba Inu

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 <p class="paragraph">Though investor optimism persists due to the approval of multiple spot Bitcoin (BTC) exchange-traded funds (BTC ETFs), the upcoming Bitcoin halving, and the expected approval of Ethereum (ETH) ETFs, 2024 has started off with a major downturn in the crypto market.</p>
 <p class="paragraph">Indeed, the red tide since January 1 has been almost universal and has swept most noteworthy cryptocurrencies, but in the crypto market, things tend to change fast. Nowhere is this more true than with the so-called meme coins – known to <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> and fall hundreds and thousands of percent within hours and days.</p>
 <p class="paragraph">Shiba Inu (SHIB), which, together with the likes of Dogecoin (DOGE), Floki Inu (FLOKI), and Pepe (PEPE), is one of the most popular meme coins, might now be likely to see its contracts change course and surge – possibly all the way to $0.011.</p>
 <h2 class="wp-block-heading" id="h-technical-indicator-signals-massive-shib-surge-incoming">Technical indicator signals massive SHIB surge incoming</h2>
 <p class="paragraph">A well-known technical <a rel="noopener noreferrer nofollow" title="indicator" href="https://thebittimes.com/tag/indicator.html">indicator</a> known as TD Sequential – a tool that seeks to detect trend fatigue and, thus, predict a point when one will reverse – signaled on January 30 that SHIB is poised to end its downward path, according to the prominent crypto expert Ali Martinez.</p>
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 <p class="paragraph">Writing on X, Martinez explained that so far, TD Sequential has proven to be a ‘remarkably precise’ tool when it comes to predicting the upcoming trends of the popular dog-themed cryptocurrency. The expert added that it is possible that perpetual contracts representing 1,000 SHIB tokens could potentially surge as high as $0.010 or $0.011.&nbsp;</p>
 <p class="paragraph">Given that 1,000 SHIB token contracts are trading around $0.009 at the time of publication, a <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> to $0.010 would be notable, and a <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> to the higher target – $0.011 – would constitute a significant rally of approximately 21.65%.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">The TD Sequential indicator has proven remarkably precise in predicting #ShibaInu price movements. Currently, it's flashing a buy signal, hinting that $SHIB could be gearing up for an upswing. <br><br>Keep an eye out, as #SHIB could climb to $0.010 or potentially even reach $0.011! pic.twitter.com/O0QbomxgFp</p>— Ali (@ali_charts) January 30, 2024
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 <p class="paragraph">Therefore, when the chart or the expert suggests a potential climb to $0.010 or $0.011, he is referring to the contract price for 1,000 SHIB tokens. This would suggest that the price of a single token might reach $0.000010 or $0.000011, respectively.</p>
 <h2 class="wp-block-heading" id="h-technicals-advise-selling-shib-despite-the-buy-signal">Technicals advise selling SHIB despite the buy signal</h2>
 <p class="paragraph">While the TD Sequential <a rel="noopener noreferrer nofollow" title="indicator" href="https://thebittimes.com/tag/indicator.html">indicator</a> issued a buy signal for SHIB, the meme coin is still, based on technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) retrieved from <em>TradingView</em>, considered a sell.&nbsp;</p>
 <p class="paragraph">Indeed, based on the cryptocurrency’s performance over the last 30 days, Oscillators point towards a “sell” and moving averages, overall, as a “strong sell.”</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/yQytXksEf9E_x_wMouT8FKYAfUFeAeVd-u8yqx8X04yNrG0uxEgeLQ_0SgI2J2WsgkIoMRTHG02kaioQ3dOEpp1_8RM6b68tTO7ZWAznl5iU1w7KLyOfzvBemNqB2LfTjQaAjMjki-cq8OzPzUP-lys" alt>
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   SHIB technicals. Source: TradingView
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 </figure>
 <h2 class="wp-block-heading" id="h-shib-price-analysis">SHIB price analysis</h2>
 <p class="paragraph">While SHIB’s future fortunes remain uncertain, the cryptocurrency has been trading mostly downward since the start of 2024 and even since the start of 2023. In the last 52 weeks, despite several brief rallies, the meme coin is 23.17% in the red.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/2_gGDSbQlEjxkwKBWUNxPe_gy4UJhtyjvn6HWy6NMjbJsf1VHq0sSG2kgwJO6mLsep51gY0ppCjqEgj6YFycHLbo317D1RBLlKklHpYTB0Y8KSZ43wqr0hJMAKJFGk6WxVHUXsVrb1hSVljCLwv7EdY" alt>
  <figcaption class="wp-element-caption">
   SHIB 1-year price chart. Source: Finbold
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 <p class="paragraph">The last 30 days tell a similar story, as SHIB declined 14.51% in the timeframe. Zooming even further in, its strong downtrend becomes ever more evident as it declined 2.37% in the last 24 hours. Despite this, Shiba Inu changed its trajectory slightly in the last 7 days and is 0.78% in the green for the period.</p>
 <p class="paragraph">Finally, despite the long downturn, it remains one of the world’s most popular meme coins and is the 17th cryptocurrency by market cap.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/remarkably-precise-indicator-hints-at-huge-shib-surge-tbt78361.html">https://thebittimes.com/remarkably-precise-indicator-hints-at-huge-shib-surge-tbt78361.html</a></p>

‘Remarkably precise’ indicator hints at huge SHIB surge

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