Renowned analyst Davie has labeled Shiba Inu (SHIB) as an undervalued treasure trove with the potential for substantial returns both in the immediate and distant future. He expressed this sentiment in a recent X post, reflecting on his prior hesitancy to heed predictive signals from Shiba Inu’s (SHIB) price charts. He had previously disregarded SHIB but he had to shift his perspective when he delved into Shiba Inu’s (SHIB) chart pattern, uncovering a promising bullish setup.
Shiba Inu’s (SHIB) Potential Rally As Revealed By Various Analysts
Specifically, Davie revealed that he saw a bullish pattern on Shiba Inu’s (SHIB) chart. It was then that he realized Shiba Inu (SHIB) was a hidden gold mine that was waiting to be discovered.
It is worth noting that a bullish pennant pattern suggests that the price of an asset may continue to rise. When there is a strong upswing, the price consolidates for a little while before splitting out and maintaining its upward path, like a miniature symmetrical triangle.
The analysis’s accompanying chart shows Shiba Inu’s (SHIB) sharp decline since it fell to $0.000045 in March. The pattern accurately depicts the convergent candlesticks that followed the notable increase in Shiba Inu’s (SHIB) price. It now indicates that Shiba Inu (SHIB) is ready to pick up its earlier bullish momentum.
Davie highlighted that the observation’s short-term upside seems good and mentioned that he feels inadequately exposed with his present SHIB ownership. He predicted that when the bulls returned, Shiba Inu (SHIB) would rise beyond $0.00005, the price level.
With SHIB currently trading at $0.00002503, the objective indicates that a short-term surge of up to 102% may be imminent.
But according to X user Bunny Boy, Shiba Inu might see an even bigger 600% increase during this anticipated second-phase rally. Additionally, one commentator suggested that the prediction might come true in the upcoming three weeks.
The movement of Shiba Inu (SHIB) sketched in the first stage serves as a notable source of inspiration for this audacious prediction. Specifically, around the end of February and early March, SHIB increased by 373% in less than 10 days.
However, Davie is not the sole analyst who has noticed the Shiba Inu chart’s bullish pennant pattern. Similar recommendations were made a few weeks ago by market observer Eunice Wong, who suggested a 409% increase that would have brought SHIB to $0.000125.
Shiba Inu (SHIB) is now trading at $0.00002503, down 2.5% from the previous day. On the other hand, SHIB maintains its 6% increase from the previous 48-hour rise driven by Bitcoin.
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