Shiba Inu (SHIB), the second-largest meme coin by total market capitalization, shows signs of a possible recovery after recent declines.
Price Reversal: Expectations and Factors
Towards the end of 2024, SHIB performed well; however, the start of 2025 saw a decrease in its value. The recent crypto market downturn on February 3 led to SHIB hitting a four-month low. Despite bulls recovering some losses, the price remains in the red over a two-week scale. Nonetheless, several key factors may signal an impending SHIB rally. Technical analysis highlights a potential trend reversal, with the TD Sequential indicator flashing a buy signal on the weekly chart. Additionally, the increased SHIB burn rate—up by nearly 400% in the last 24 hours—supports potential growth.
Optimistic Predictions for SHIB
Analyst CryptoELITES forecasts a rapid price increase for SHIB in the short term, with three target prices: $0.000085171, $0.000183312, and $0.000472905, with the latter representing a 2800% increase from the current level. The analyst believes this uptrend could be driven by a decrease in BTC's dominance.
Prospects and Market Conditions
Over the past few years, BTC's market dominance has increased from less than 38% in November 2022 to over 60% at present. Many in the market expect BTC's decreasing dominance could create the conditions necessary for other assets, including SHIB, to rise. The movement of funds from centralized exchanges to private wallets also signals bullish expectations.
Current technical indicators and market movements point toward a potential Shiba Inu recovery. However, investors should monitor BTC dominance changes and other market conditions closely.
