- Shiba Inu (SHIB) is expected to surge 75% above its 2024 highs, according to an analyst named Javon Marks.
- Marks believes that SHIB has successfully broken out and has been up over 162% since then, responding well to a recent Hidden Bullish Divergence.
- The analyst predicts that a more than 3X gain for Shiba Inu could be “loading and coming quickly” to the first overall breakout goal at 0.0000081.
The meme coin Shiba Inu (SHIB) has seen many ups and downs this past year. Recently, an analyst made a bold prediction that the price could surge over 75% above the 2024 highs.
Shiba Inu’s Rocky Year
Shiba Inu started 2024 off strong, with its price jumping nearly 200% in the first half of the year. The asset hit a seven-month high in mid-November, with its market value surpassing $17 billion.
However, SHIB has lost momentum since then despite remaining positive on a monthly basis. Like the broader market, Shiba Inu has been mired in a rut lately. Over the past 24 hours, the price dropped 10% to $0.00002351. This comes on the heels of a 39% price increase throughout November.
The community was optimistic SHIB would eliminate a zero in the coming days. But its recent slump has made some skeptical about a near-term breakout.
source: coingecko
Analyst Predicts Over 75% Surge Above 2024 High
According to analyst Javon Marks, SHIB remains one of his best positions right now. He notes that Shiba Inu successfully broke out and has climbed over 162% since then. It has done so while responding well to a recent hidden bullish divergence.
Marks believes this divergence suggests a rise of more than 75% above the 2024 highs. But he thinks this could just be a portion of a much larger 215% run up to the first breakout goal of $0.000081. As he states:
“A more than 3X for Shiba Inu could be loading and coming quickly.”
Conclusion
While predictions like this spark hope, Shiba Inu’s future is still uncertain. The community remains cautiously optimistic the meme coin can build on its 2024 gains in the year ahead. But SHIB needs to break out of its recent doldrums first before a 75% surge is possible.
