Following earlier speculation that the Shiba Inu rally is overdue, Crypto Sheriff has predicted a more aggressive upside push.
The broader crypto market has recovered from a scare earlier in the month. Notable assets, including Shiba Inu, have surged significantly, posting considerable gains in the past seven days.
For context, SHIB surged over 13% in the past 24 hours, outperforming all assets in the top 30 crypto ranking by market cap. The dog-themed token has also gained 17% from its price month-to-month.
However, market analyst Crypto Sheriff speculates a more aggressive SHIB price uptick with parabolic expansion targeting $0.000045.
Analyst Sees Massive Price Uptick
In an X post, Crypto Sherrif stated that he sees an impending surge in the SHIB price, similar to that seen in the past 24 hours.
His latest post came a few days after he predicted that SHIB would surge from a recent consolidation. Crypto Sheriff stated that the Shiba Inu’s price had been redundant for a long time and that it was time for a “great pump.” SHIB traded at $0.00001296 at the time, about 23% away from its current price.
Despite admitting that SHIB was rising as he speculated, the analyst stated that the token was not moving at the pace he expected. He further asserted that SHIB would see a face-melting pump in the coming days.
Path to $0.00002?
SHIB’s recent price surge to $0.0000167 has sparked bullish momentum, with market spectators observing the trend. Notably, analyst Crypto Jack sees a sustained price uptick and a potential movement up north to $0.00002.
Per his Thursday tweet, Crypto Jack noted that Shiba Inu was pumping again after a period of sideways trend. Accordingly, he sees SHIB continuing in this bullish push for a breakout in the daily timeframe.
The price of $SHIB is pumping again!
Get ready for an eventual breakout of the range for #ShibaInu pic.twitter.com/hSMvR6ZH56
— CryptoJack (@cryptojack) September 26, 2024
The analyst noted that a breach of the resistance at $0.0002 will confirm SHIB’s range breakout and set the memecoin for higher prices. This aligns with an earlier technical analysis published by the Crypto Basic.