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- Shiba Inu might see a massive price rebound per TD Sequential Indicator call.
- The SHIB ecosystem is expanding, setting a new basis for improved sentiment and potential adoption.
Ali Martinez, a popular analyst in the crypto space, recently shared optimistic sentiments about the Shiba Inu (SHIB). The analyst says SHIB looks set to rebound from its recent slump, citing bullish indicators.
Matinez Spots Bullish SHIB indicators
As of this writing, SHIB has registered a 0.95% surge in the last 24 hours, trading at $0.00001590. Before this price uptick, Shiba Inu experienced huge price drops in the past few weeks, largely driven by macroeconomic factors.
The price of SHIB dropped to as low as $0.00001160 in February, declining from its December highs of $0.00003343. The price soon recovered mildly above $0.000015, which coincides with the current levels. Still, Shiba Inu remains in a major downturn this year.
However, in his recent X post, Martinez claims Shiba Inu is set for a bullish recovery. He pointed out that the TD Sequential indicator flashes a buy signal on the memecoin’s weekly chart. The analyst, however, did not reveal a price target for Shiba Inu’s potential move.
In crypto, the TD Sequential indicator is an important technical analysis tool that helps traders identify potential price reversals. This indicator can help traders improve their market timing and trading strategies. However, it is important to note that relying on it to predict SHIB’s price trajectory in the past produced mixed results.
For example, in December, Martinez predicted a SHIB rebound to $0.000026 or $0.000029 based on a similar buy signal on the daily candle chart. The memecoin, trading at $0.000023, then moved upward in line with the prediction to $0.000025, just shy of the set target.
SHIB flashed the same buy signal on the daily chart in a similar instance in July 2024 when it traded around $0.00002077. However, instead of moving in an uptrend, the memecoin continued to trade lower to hit a low of $0.00001266 in the following weeks.
Shiba Inu Predictions from Other Analysts
Notably, the bullish SHIB prediction from Martinez aligns with predictions from other analysts and market participants. Crypto trading group Rose Premium Signals recently asserted that SHIB is poised for a reversal with significant upside potential.
The platform set upside targets of $0.00002913, $0.00003612, and $0.00004401. They cited a potential SHIB breakout from a falling wedge as the basis for their prediction. This is in addition to the memecoin’s retest of a multi-week support zone between $0.000015 and $0.000011.
In a recent study CNF reported on Solberg Invest, another analyst said SHIB could increase to $0.000045 if it bounces off the $0.000018 support. Likewise, Marks Javon, a popular analyst, predicted an 840% rally for SHIB.
These bold predictions for Shiba Inu follow major developments in the project’s ecosystem. In our previous article, we discussed that Shiba Inu formed a new partnership with UAE’s Ministry of Energy and Infrastructure (MoEI). The partnership aims to deliver enhanced services with ShibOS deployment.
