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Shiba Inu

Hidden Bull Divergence Appears On Shiba Inu Chart, Here’s How High The Price Can Go

Scott Matherson
by Scott Matherson
11 months ago
·
Posted in Altcoins, Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Shiba Inu price chart is displaying a new key technical pattern which suggests that a price rally might be imminent. According to crypto analyst, Javon Marks, this technical pattern called a “Hidden Bull Divergence” indicates a potential 330% climb to new price highs.

SHIB’s Positive Reaction To Hidden Bull Divergence

On Tuesday, October 22, Marks took to X (formerly Twitter) to discuss the appearance of a new technical pattern in the Shiba Inu price chart. According to the analyst, Shiba Inu has showcased a Hidden Bull Divergence, a key technical indicator that hints at future price increases for a cryptocurrency despite broader market conditions.

Related Reading: Crypto Analyst Who Predicted Bitcoin Price Crash From $69,000 Says Dogecoin Is Headed For $0.68

Following the trajectory of this crucial pattern, Marks denotes that SHIB may be on the verge of a major price rally. The analyst has maintained a price target around the $0.000081 threshold for Shiba Inu, highlighting that the popular meme coin could see its price jump as high as 330% or 4X soon. 

Shiba Inu
Source: X

Despite major fluctuations in Shiba Inu’s price lately, Marks has remained firm in his bullish outlook for the meme coin. He has revealed that the market was currently at the early stages of this projected price increase, meaning that SHIB could see its value climb to $0.00008 in 2025. 

This timeline is verified through Mark’s chart which clearly shows the Hidden Bull Divergence in the Shiba Inu price movements. The analyst has also pinpointed an even higher target at around $0.0001553 for SHIB, suggesting that a continuous price rally could see the meme coin giving up a zero and skyrocketing to new all-time highs. 

As of writing, the price of Shiba Inu is trading at $.00001775, experiencing a 1% decline in the last 24 hours and another 2.07% decrease over the past week. Despite this obvious down pressure in the Shiba Inu price, Marks remains optimistic that if Shiba Inu can give a positive response to the new Hidden Bull Divergence, then the market should be prepared for a price increase. 

Shiba Inu Price Rebound Signals Confirmed

Amidst the strong market volatility, Shiba Inu continues to attempt to break key resistance to reach new highs. A crypto analyst identified as ‘Flatleak’ on X has revealed that SHIB shows signs of an upcoming rebound from recent lows.

Related Reading: XRP Price Gears Up For Major Surge, Analyst Reveals The Driver

While its price currently sits at $0.000017, the analyst has revealed that Shiba Inu has been showing signs of a rebound for the past few weeks, highlighting several key indicators that confirm this narrative. Flatleak has revealed that the SHIB TD sequential has flashed a buy signal, suggesting that downward pressures may be losing momentum. 

Moreover, increased interest in retail investors combined with its supportive community continues to support its price. Based on these positive developments, the analyst has revealed that Shiba Inu’s next bull target would be $0.000022. 

Shiba Inu price chart from Tradingview.com
SHIB price wobbles with pressure | Source: SHIBUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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