The Shiba Inu price chart is revealing a new critical technical pattern, indicating that a price surge might be on the horizon. Crypto analyst Javon Marks suggests that this pattern, known as “Hidden Bull Divergence,” could predict a substantial 330% increase to new price peaks.
SHIB’s Optimistic Response to Hidden Bull Divergence
On Tuesday, October 22, Marks shared insights on X (formerly Twitter) regarding the emergence of a new technical pattern in the Shiba Inu price chart. He noted that Shiba Inu has manifested a Hidden Bull Divergence, a pivotal technical indicator that suggests potential future price growth for a cryptocurrency regardless of the wider market climate.
Following this essential pattern, Marks indicates that SHIB might be on the cusp of a significant price rally. He has set a price target near the $0.000081 level for Shiba Inu, emphasizing that the popular meme token could potentially surge by 330% or even 4X shortly.
In spite of significant fluctuations in Shiba Inu’s price recently, Marks has held steadfast in his bullish perspective for the meme token. He has indicated that the market is currently in the infancy of this anticipated price upswing, suggesting that SHIB’s value could reach $0.00008 by 2025.
This timeframe is confirmed through Marks’s chart, which distinctly illustrates the Hidden Bull Divergence in Shiba Inu’s price movements. The analyst has also identified an even loftier target around $0.0001553 for SHIB, indicating that a persistent price rally could lead to the meme token eliminating a zero and soaring to new all-time highs.
As of this writing, the current price of Shiba Inu is at $0.00001775, reflecting a 1% drop over the last 24 hours and a 2.07% decrease over the past week. Despite this evident downward pressure on the Shiba Inu price, Marks remains hopeful that if Shiba Inu responds positively to the new Hidden Bull Divergence, a price boost should follow.
Signals Confirming Shiba Inu Price Rebound
In the midst of significant market volatility, Shiba Inu persists in its efforts to breach key resistance levels in pursuit of new highs. A crypto analyst known as ‘Flatleak’ on X has pointed out that SHIB exhibits signs of an imminent rebound from recent lows.
While its current price lingers around $0.000017, the analyst has noted that Shiba Inu has been displaying rebound signs for several weeks, emphasizing multiple key indicators that validate this perspective. Flatleak highlighted that the SHIB TD sequential has activated a buy signal, indicating that downward pressures might be waning.
Additionally, increasing interest from retail investors along with its supportive community continues to bolster its price. In light of these encouraging factors, the analyst projects that Shiba Inu’s next bullish target will be $0.000022.
Featured image created using Dall.E, chart sourced from Tradingview.com
