Shiba

Stronger

when

Shiba Inu

<a href="https://bitcoinist.com/crypto-analyst-predicts-1300-for-cardano/">Crypto analyst Ali Martinez</a> has provided a bullish narrative for the Shiba Inu price action, increasing the possibility of the meme coin inching closer to its all-time high (ATH). This is coming at a time when the <a href="https://bitcoinist.com/shiba-inu-active-addresses-soar-over-170/">crypto token’s fundamentals</a> look to be stronger than ever.&nbsp; 
<h2 id="shib-could-see-a-40-bullish-breakout">SHIB Could See A 40% Bullish Breakout</h2> 
Martinez highlighted in an X (formerly Twitter) <a href="https://x.com/ali_charts/status/1766510211563401573?s=20" rel="nofollow" target="_blank">post</a> a <a href="https://bitcoinist.com/symmetrical-30000-xrp-price/">symmetrical triangle</a> that formed on the SHIB chart. He stated that a sustained close above the $0.000038 resistance “could trigger a 40% bullish breakout, pushing SHIB toward $0.000052.” Meanwhile, he added that the meme coin losing the $0.000033 support level will invalidate the <a href="https://bitcoinist.com/a-lifelong-us-dollar-downtrend-paints-bullish-outlook-for-bitcoin/">bullish outlook</a>. 
The crypto analyst had <a href="https://bitcoinist.com/122000-surge-shiba-inu-price/">previously</a> made a more ambitious price prediction for SHIB, stating that the token could lose three more zeros and rise to $0.011. He based his analysis on the TD Sequential indicator, which he noted “has proven remarkably precise in predicting SHIB’s price movements.&nbsp; 
While the previous prediction seemed more like hopium, the <a href="https://bitcoinist.com/shib-grayscale-shiba-inu-etf/">SHIB community</a> will no doubt be confident in this recent one being actualized, considering the meme coin’s parabolic run as of late.&nbsp; 
SHIB’s recent surge has also sparked optimism that it could <a href="https://bitcoinist.com/shiba-inu-dogecoin-shib-excitement/">surpass Dogecoin (DOGE)</a> as the most valuable meme coin. DOGE and SHIB are currently going head-to head, ranking as the ninth and tenth largest crypto tokens by market cap. Interestingly, SHIB has outperformed DOGE since the beginning of 2024, boasting a year-to-date (YTD) gain of over 200% compared to the latter’s 82% gain.&nbsp; 
<h2 id="the-shiba-inu-ecosystem-is-getting-stronger">The Shiba Inu Ecosystem Is Getting Stronger</h2> 
<a href="https://bitcoinist.com/shiba-inu-shib-name-service-launch/">The Shiba Inu team</a> has continued to intensify their efforts to build a solid ecosystem for the meme coin. These efforts are already visible as they have significantly increased SHIB’s adoption. Recently, NewsBTC <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-0-0008-ath/#:~:text=SHIB's%20all%2Dtime%20high%20(ATH,a%20new%20ATH%20very%20possible." rel="nofollow noopener" target="_blank">reported</a> that the crypto token had seen a 2,000% increase in its new daily addresses.&nbsp; 
Furthermore, Shiba Inu’s lead developer, Shytoshi Kusama, <a href="https://bitcoinist.com/shiba-inu-shib-name-service-launch/">recently announced</a> the launch of the SHIB name service. This initiative forms part of the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-implementing-shibpaper/" rel="nofollow noopener" target="_blank">ecosystem’s roadmap</a> to revolutionize the internet and build a decentralized state. The team also aims to onboard more users into the SHIB ecosystem through this.&nbsp; 
Meanwhile, the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-burns/" rel="nofollow noopener" target="_blank">burn initiative</a> is still in full force as the community has drastically intensified its efforts to reduce SHIB’s circulating supply. Shiba Inu’s Marketing lead, Lucie, announced they had secured 40 ETH ($157,000) to carry out <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-8-billion-shib-burned/#:~:text=Over%208%20Billion%20Shiba%20Inu%20Burned%20In%20The%20Last%2024%20Hours&amp;text=As%20a%20result%20of%20this,transferred%20to%20a%20dead%20wallet." rel="nofollow noopener" target="_blank">more SHIB burns</a>, which could amount to about 4.6 billion SHIB tokens being burnt.&nbsp; 
At the time of writing, SHIB is trading at around $0.00003401, down almost 3% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/UpxFrl5h/" alt="Shiba Inu price chart from Tradingview.com" width="3286" height="1530">

Shiba Inu Price Will See Massive Surge To $0.000052 If This Happens, Analyst Predicts

Table of Contents

Bitcoinist

Other articles published on Mar 11, 2024

Bitcoin halving: What’s different this time around?

'Bitcoin Popularity Secret' Revealed by Michael Saylor on CNBC

What is Shima Enaga and How Does It Benefit New Crypto Investors?

Could Render Token 100x?

New Solana (SOL) Contender Priced $0.0018 Rivals SOL Cryptocurrency, 2024 Bull Run Price Predictions

March Success: Raffle Coin (RAFF) Gains Momentum with Support from Ethereum (ETH) and USD Coin (U...

Join our free newsletter for daily crypto updates!