Shiba Inu To Surge 75% Above 2024 Highs, Analyst Confirms

The Shiba Inu (SHIB) market has witnessed an array of upticks and downtrends over the year. The meme coin mostly recorded multiple spikes as it rose nearly 200%. The asset made noise in mid-November as its price reached a seven-month high, and its market value surpassed $17 billion. Even though the asset has lost momentum since then, the asset remains in the green monthly and is the subject of positive projections.

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Shiba Inu’s Current Slump

Like the rest of the market, Shiba Inu was in a rut. The asset saw a major drop over the past 24 hours. At press time, SHIB was trading at $0.00002351 following a 10% decline. This comes after a 39% rise in its price throughout the month.

The community has been expecting SHIB to eliminate a zero in the coming days. However, some remain pessimistic due to its current price slump. Despite this, a majority of the market seems to be bullish about Shiba Inu rising sooner rather than later.

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A Potential Spike Ahead

According to an analyst who goes by the name Javon Marks on X (formerly Twitter), SHIB is one of its best positions. The expert noted that Shiba Inu has successfully broken out and has been up over 162% since then. The asset has done so while also responding well to a recent Hidden Bullish Divergence.

Marks notes that the divergence suggests a rise of more than 75% over the 2024 highs. But this might just be a minor portion of a far greater 215% upward run to the first overall breakout goal at $0.000081. The analyst added,

“A more than 3X for Shiba Inu can be loading and coming quickly.”

While Shiba Inu’s future remains uncertain, predictions like this bring hope into the market.

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