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Cryptocurrency analyst Captain Toblerone Recently provided insights on Shiba Inu (SHIB) Future path using Elliot wave theory. This suggests that the recent memecoin price correction was just part of a bigger picture, as the analyst expected the memecoin to reach a higher level. New all-time high (ATH) On the next leg.
SHIB price is heading towards $0.00022
Captain Toblerone subscriber Shiba Inu chart on the X platform (formerly Twitter), which showed that the Shiba Inu will rise to $0.00022000 when wave 3 of the five-point sequence occurs. The chart shows that wave 2 of the sequence was currently occurring, as SHIB is witnessing a corrective move.
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A rise to $0.00022000 will create New all-time high (ATH) For the second largest meme coin by market cap, with the current ATH at $0.00008845. Captain Toblerone’s analysis also showed that the Shiba Inu can achieve this New ATH by September this year. Interestingly, the Shiba Inu price is not expected to peak there, as the chart also showed that the meme coin could reach another ATH when wave 5, also an upward move, occurs later.
Meanwhile, SHIB is facing corrective wave 2, with the meme coin falling more than 7% over the past 24 hours. And this follows Impressive recent price rise When it rose more than 15% and flipped Cardano to become the 10th largest cryptocurrency token by market cap.
Although the Shiba Inu has once again fallen out of the top 10 with its recent price decline, the meme could easily break into it again if it eventually rises to $0.00022, as Captain Toblerone predicts. There is no doubt that the Shiba Inu has the upward momentum to enjoy such a price rise since this upward trend is expected To be a super meme cycle.
The Bitcoin analyst is also bullish on the Shiba Inu
Crypto analyst and early Bitcoin investor Jeremy DaVinci He recently confirmed his bullish feelings for the Shiba Inu. He mentioned in X’s post that the meme coin will break out and rise to… Up to $0.00006000 When does this downward trend end? He also revealed that he will be looking to put together more SHIBBecause he sees an opportunity to make money.
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Cryptocurrency analyst Oscar Ramos also mentioned recently The SHIB is set to run to the current ATH and “beyond”. He added that the meme coin is ready to give up another zero and rise to $0.0001. He was a cryptographer Previously highlighted This price level is his target for the Shiba Inu in this uptrend.
At the time of writing, the Shiba Inu is trading at around $0.00002604, down over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com
