Highlights
- Davinci Jeremie highlights the need of Shiba Inu (SHIB) and its ecosystem, particularly Shibarium’s role.
- Experts believe the current market conditions present a good opportunity for accumulation, signaling a potential reversal possibility of Shiba Inu price in the long term.
- Analysts note that SHIB crypto has historically surged when breaking critical resistance levels.
Davinci Jeremie, a well-known crypto educator, recently shared insights on Shiba Inu price and its ecosystem. He highlighted that its ecosystem has Shibarium, which is a layer-2 network designed for low-cost transactions.
Jeremie pointed out that despite Shibarium’s roadmap currently lacks innovative use-case scenarios but its low-cost transactions places it among the top layer-2 networks.
Its Shibarium network could play a crucial role in the growth of the Shiba Inu price and its ecosystem both in the long run.
He also said that fundamentally, it needs to grow its practical use cases in the real world. As the future success of SHIB crypto largely depends on how developers can introduce practical applications for the token.
Once Its adoption increases, the Shiba Inu price could lead to a heavy surge. This will position it as a key player and provide better returns for its investors.
In addition to these fundamentals, other analysts are also weighing in on future Shiba Inu price potential. One analyst noted that historical data shows SHIB crypto tend to experience substantial price increases when the project breaks through critical resistance levels.
While, another analyst pointed out that SHIB crypto has entered a significant accumulation phase, which could signal a potential reversal in its price trend. Keep reading to know more.
Analyst Highlighted Shiba Inu Price Moved in Historical Horizontal Range
Recently, a post showed that historical data indicates that SHIB price have experienced significant price surges when the project breaks through critical resistance levels.
Pro Analyst Ali Martinez highlighted daily chart on X from November 2024, which showed that the SHIB price surged to $0.000032 before undergoing a correction.
He noted that if the current support zone holds, it could pave the way for a recovery toward $0.000020 in the short term.
Martinez also pointed out that the current Shiba Inu price movements tend to align with broader market trends.
It suggests that external factors are heavily influencing its recent month’s performance and could influence future weeks or months, as well.
More importantly, if buyers return to the market, SHIB price could regain its bullish momentum and potentially reach new highs or, at best, could retest the previous high of $0.000032.
Analyst Says a Reversal is Imminent After Accumulation Phase Overs in Shiba Inu Price
The Shiba Inu price is currently trading at $0.00001173 after dipping to a slight support level of $0.00001082, near the declining dynamic support trendline.
This decline can be attributed to broader market conditions, as SHIB price struggles to maintain upward momentum.
Despite the recent downturn, many analysts believe this is an opportune time to start accumulating the token.
According to analyst The Hunters_Company, SHIB price had previously been trading within a multi-year falling wedge pattern. A breakout from this pattern occurred in early 2024, leading to a sharp price increase.
However, subsequent trading sessions saw a correction, bringing the price back down to key support levels.
Analysts now suggest that SHIB price has entered a significant accumulation phase, which could set the stage for a potential reversal.
per the analyst, the Shiba Inu price faces several resistance levels that could impact its movement in the future if a reversal movement occurs.
The first major resistance to look out for in a bullish case lies at $0.00001693. As a breakout above this level could signal increasing bullish momentum.
If the SHIB price maintains a positive trend, the next resistance level to watch will be present at $0.00002485.
Further fluctuations could push SHIB toward $0.00004022 and $0.00007380. If bullish pressure continues, these levels may serve as key reference points for a potential rally.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.