Renowned crypto analyst Ali Martinez has stirred excitement in the Shiba Inu (SHIB) community with his recent price prediction.
In a comprehensive analysis, Martinez suggested that SHIB might experience a significant breakout if it manages to uphold the crucial support level at $0.0000103.
The analyst's forecast, made when SHIB was valued at $0.000011, has already seen some validation as the token surged to nearly $0.000012 before a modest correction of over 10%.
Despite the correction, SHIB resiliently clung to the $0.0000103 level, a key point identified by Martinez. Presently, the meme token is trading 4% above this level, giving credence to the analyst's predictions.
SHIB traders are now closely monitoring this level, as a sustained hold could potentially trigger another wave of upside, with the potential for a more than 30% increase.
Shiba Inu shines green
Yesterday's remarkable performance saw the token gain over 20%, leaving a substantial green daily candle on the price chart. This surge contributed to a notable 28% rate of return for the Shiba Inu token since the start of December.
With momentum building and Martinez's predictions gaining traction, the community is eagerly speculating on whether SHIB can reach the projected target of $0.000014 before the close of 2024.
Shiba Inu enthusiasts are on the edge of their seats, as their favorite token continues to defy common expectations.
The question remains: Can SHIB achieve the projected surge, or will external factors influence its trajectory in the coming days?