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Jakarta, Pintu News – The world’s second largest meme coin, Shiba Inu (SHIB), has been one of the worst performers in the overall altcoin market. However, market analysts remain optimistic for September, expecting a 163% surge in SHIB price going forward.
With SHIB’s burn rate surging 157.726% last week, this could be a trigger for further spikes.
Popular crypto analyst Javon Marks has identified a bullish setup for Shiba Inu (SHIB), noting a regular bullish divergence on the MACD histogram. According to Marks, this pattern signals a possible major reversal to the upside.
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This analyst suggested that SHIB could gain over 163% towards the $0.00003 range. If the momentum continues and the price of Shiba Inu holds above the previous breakout level, this rally could continue further, potentially targeting a 570% surge towards around $0.000081.
Another crypto analyst, Jonathan Carter, confirmed the breakout for Shiba Inu from the descending channel. The altcoin is currently consolidating just below its 50-day moving average on the daily chart.
Carter noted that a bullish spike above this moving average could trigger a strong rally to the upside, with potential price targets at $0.000014, $0.0000175, $0.0000205, and $0.000025. In addition, a decrease in SHIB supply on the exchanges could further support a price rally.
In addition, data from CoinGlass shows that SHIB futures trading volume has increased by 56% to over $200 million. This suggests that derivatives traders are expecting bullish momentum ahead.
Shiba Inu’s Head of Marketing, Lucie, revealed plans for an outreach initiative targeting major markets in Asia, including Korea, Japan, and China. Lucie highlighted the growing momentum of the Shiba Inu community in these regions and emphasized the importance of expanding the project’s global presence.
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Lucie also noted that the team does not prioritize the price of Shiba Inu ecosystem tokens, including SHIB. It was also emphasized that despite the current low price of Shiba Inu, the focus remains on building the Shibarium ecosystem and driving long-term adoption.
While many community members see token burning as the fastest path to price growth, Lucie and the team remain of the opinion that sustainable value comes from developing utilities and promoting real-world adoption for Shiba Inu projects.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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