Shiba Inu Price Could Explode to $0.00008854, Analyst Predicts 1,700% Surge

Market analyst Crypto Patel thinks Shiba Inu could be on the verge of another significant price increase. According to him, if SHIB breaks above a key multi-year resistance level, it could potentially surge by as much as 1,700%.

Patel based his analysis on SHIB's recurring long-term market cycles. He noted that the token has consistently undergone deep corrections before launching powerful recoveries. This pattern is evident in its previous price movements, including a 1,636% rally to an all-time high of $0.000088 in 2021.

Currently, SHIB is trading within its most significant macro accumulation zone since the previous market cycle bottom. Patel believes that this could be the foundation for another major upward move, but stressed that SHIB has not yet confirmed a new bull market.