Market Analyst Predicts 2x Gain for Shiba Inu Amid Tightening Coil Pattern

Analyst Davie Satoshi predicts Shiba Inu (SHIB) could see a significant price surge, potentially doubling its value based on a tightening coil pattern.

Satoshi recently took to social media to share his insights on SHIB’s tightening coil pattern. According to him, this pattern indicates that SHIB is gearing up for an explosive breakout, possibly doubling its current value.

That coil is tightening even more for $SHIB…
Last chance..
Once unleashed, its going to be epic and a easy 2x and more from here..
NFA. pic.twitter.com/G2yGslFmWC

— davie satoshi (@NFTdavie) May 30, 2024

SHIB’s Recent Market Behavior

Satoshi’s chart shows that SHIB has exhibited a bearish trend from March to late May, forming a descending channel with prices falling from around $0.000045 to $0.00002. However, in mid-May, SHIB broke above this descending channel, hinting at a potential bullish reversal.

Despite this breakout, SHIB continued consolidating within an ascending channel, keeping market participants on edge. As of press time, Shiba Inu has again broken above its current channel around $0.000025, signaling the potential for significant upward movement.

Davie Satoshi’s Insights

This breakout has caught the attention of investors and analysts, with experts like Satoshi anticipating a robust rally in the near future. According to Satoshi, the current phase might be the final opportunity for investors to get in before SHIB’s anticipated price surge. 

He firmly asserts that the SHIB pattern typically precedes a strong rally, predicting the token could achieve a 2x gain from its current level and potentially even more in the near future.

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SHIB to $0.0000886

Meanwhile, in a recent analysis, market expert Javon Marks projected a potential rally for Shiba Inu, possibly reaching $0.0000886 in its next upward push. This forecast implies a substantial 240% uptick from its current value, potentially pushing the price beyond its all-time high.

Marks further emphasized the importance of the $0.000081 level, identifying it as a critical benchmark. Reaching this level would equate to a 210% rise from SHIB’s current market price.

Moreover, he mentioned that surpassing this key level could open the door for additional gains, with $0.0001553 as the next target. As of now, SHIB is trading at approximately $0.00002592.