Shiba Inu (SHIB) Eyes $0.0001: Key Factors Fueling Bullish Forecast

• Shiba Inu (SHIB) price forecast: Elliott Wave analysis suggests potential 500%+ surge to $0.0001.
• Analyst cites corrective phase ending around $0.0000055 as signal of future recovery.
• Bullish outlook considers SHIB’s history and potential to break its $0.00008616 ATH.

Shiba Inu (SHIB) has become a token with intense price speculation as analysts believe SHIB could surge by over 500% soon, potentially hitting $0.0001

The Bullish Case for SHIB: Elliott Wave & More

Elliott Wave analysis from the trader CaptToblerone points to a potential sharp recovery. The analysis suggests SHIB completed a corrective phase around $0.0000055. It then indicates a five-wave uptrend, with prices rising in a clear sequence. If this pattern plays out, SHIB could climb toward $0.00014, a tenfold increase from current levels.

Notably, the Elliott Wave theory has accurately predicted past SHIB movements. Some traders now anticipate SHIB breaking its previous all-time high of $0.00008616.

However, SHIB also experienced a recent downturn, following an ABC Elliott Wave pattern after rallying to $0.00004567 in March 2024. SHIB currently trades in Wave B, around $0.00001189. This s…

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