Shiba Inu coin (SHIB) has shown significant recovery after reaching a low, attracting attention from analysts.
Shiba Inu Price Up 50% From June Low
Shiba Inu's price dropped to a low of $0.00001004 on June 22, briefly breaching a local support zone. This dip triggered widespread stop-loss activation, forcing weak positions to close. According to Tradersboat, this movement was a deliberate liquidity grab that formed the basis for a stronger trend reversal. Since then, Shiba Inu price has recovered by 50%, climbing past its previous resistance levels and breaking a descending trendline.
Analyst Predictions for Shiba Inu's Next Target
Analysts noted that the price movement aligns with historical resistance levels. The next key area is predicted to be around $0.000025, which previously rejected the meme coin during the 2024 rally. If Shiba Inu can secure above this level, the next target may extend to the $0.000035 range.
Shiba Inu's Success in July and Ecosystem Expansion
In July, Shiba Inu showed strong performance, increasing by 32%. The weekly increase is approximately 11.5%. This rise is attributed to both technical price movements and a general recovery in the altcoin market. Additionally, the Shiba Inu ecosystem is expanding, evidenced by the growing adoption of Shibarium and improvements in artificial intelligence.
Shiba Inu's price demonstrates positive trends due to market recovery and ecosystem improvements, suggesting potential growth in the near future.
