Top Analyst Predicts Shiba Inu 114% Rally As SHIB Now Running Amid Bitcoin Resurgence
A prominent market analyst expects the recent Shiba Inu resurgence to continue, predicting further upside after a bounce from an accumulation zone.Specifically, watcher StrongHedge insisted in a recent commentary that Shiba Inu, the second-largest meme coin by market capitalization, has been on a good run lately. Notably, charts support this assertion, as SHIB surged an impressive 8% last week, marking its third consecutive week of positive price action.Bitcoins Resurgence a CatalystFurthermore, the analyst tied part of Shiba Inus bullish momentum to Bitcoins resurgence. The crypto firstborn has increased by 27% since its low of $74,393 in early April to its current price of around $95,000, and StrongHedge believes this has contributed to the recent positive price run for SHIB.In truth, the dog-themed meme coin has regained momentum since Bitcoins rebound, rallying 36% from its intra-month bottom of $0.00001029. Notably, this recovery has sparked speculations that Shiba Inu will rally to new highs before the bull run ends.Notably, the bullish sentiments resonate with StrongHedge, which predicts a lower high price action on Shiba Inus daily chart. The prominent chart highlighted that SHIB bounced from an accumulation zone with its April 9 rejection of lower prices, contributing to the assets northward momentum.From here, the market watcher predicts a 114% rally to $0.00003, a price level that Shiba Inu last saw in December. He identified the target in an accompanying chart, highlighting two possible resistance levels for this uptrend.
Text source: The Crypto Basic
