The price of Shiba Inu (SHIB) has experienced significant changes over the past few weeks. Since reaching its peak in early August, the market has been undergoing a correction.
Overview of Current Situation
The Shiba Inu (SHIB) token reached a 30-day high of $0.00001417 on August 14, after which it started to decline and is currently trading at around $0.00001228. This represents a drop of over 13% from the recent peak.
Analyst Price Predictions
Analyst Javon Marks suggests that the situation could change. He identified a bullish divergence on the MACD histogram, indicating a potential decrease in selling pressure. According to his forecast, the first target for SHIB might be the $0.00003 range, representing a 163% increase from the current level. If momentum continues to build, SHIB could reach $0.000081, which corresponds to a 570% increase.
Final Thoughts
Currently, the price of Shiba Inu is at a low point, but it may be preparing for a recovery. If Marks’ predictions prove accurate, the first step towards growth will be reclaiming the $0.00003 zone, potentially paving the way for reaching its historical maximum.
Amidst current price fluctuations of Shiba Inu, there are signs indicating a possible recovery. The situation may change if analysts' forecasts come true.
