With Shiba Inu showing strong rebound ability, one analyst expects the meme coin to continue its path towards its all-time high.
Shiba Inu has participated in the general market correction, losing over 22% last week. During the recession, the dog-themed meme coin retested its early November low of around $0.00001853.
Meanwhile, SHIB has rebounded strongly from the zone and is trading near its main demand zone about $0.000022. The asset has risen 24% from the low and is now trading at $0.00002312.
Therefore, veteran market analyst Javon Marks insists that Shiba Inu’s bullish momentum continues. On a Christmas day tweetHe claimed that the meme coin could continue its path to $0.000081.
Shiba Inu prints bullish signal
Marks stated that Shiba Inu has shown upside potential. In his tweet, he mentioned that Shiba Inu’s recent rally has sent a bullish signal that will lead to further price increases.
Additionally, the market expert explained that Shiba Inu’s price remains on track near its all-time high of $0.00008854. According to the commentary, Marks claimed that the second largest meme coin will rise by over 234% or about 3.33x to $0.0000810.
An accompanying chart shows that Shiba Inu has printed a bullish confirmation after the recent increase. The 1-day chart of SHIB/USD shows that the token confirmed bullish momentum yesterday with a bullish daily close.
In particular, the analyst did not clearly state when Shiba Inu will reach the new target. However, his “in the cards” remark suggests that the meme coin’s price would soon explode.
Shiba Inu at $0.000081
In the meantime, Mark has commented specifically on…
