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The Shiba Inu ecosystem’s marketing lead has concurred with an analysis that SHIB would surge 12x to an unprecedented peak.
Shiba Inu recently gained bullish traction following successive days of price appreciation. The second-largest meme coin by market cap is up an impressive 14% this week, outpacing most high-caliber assets.
Amid the northward momentum, a Shiba Inu ecosystem team member believes far higher prices await SHIB. Lucie, the ecosystem’s lead marketer, has agreed that a potential 12x surge to uncharted territory could be awaiting the doggy-themed meme coin.
Shiba Inu Eyes 12x Surge
In a recent statement, Lucie aligned with an analysis that predicted a multifold Shiba Inu surge to $0.0001833. She highlighted its possibility, stating that she could not agree more with the bullish commentary.
Notably, the analysis came from CryptoELITES, a prominent market watcher. The Tuesday disclosure spotlighted SHIB’s bounce from a crucial support, driving its classical cup-and-handle price structure back on track.
For context, SHIB’s price action since its October 2021 peak at $0.0008854 has been forming a cup-and-handle pattern. The cup section entirely took shape with Shiba Inu’s March 2024 top at $0.00004567, with the handle on course for completion.
Following a rebound from the handle’s lower support line at $0.00001082 earlier in March, CryptoELITES has speculated a sustained upward trajectory to its target above the 1.272 Fibonacci extension at $0.0001827.
Moreover, the analyst highlighted key levels to watch during the rally. One is at the cup-and-handle pattern’s neckline at the 0.618 Fibonacci level at $0.00003117. A sustained push past the resistance would spur a run to the 1.00 Fib. level at $0.00008757, near Shiba Inu’s all-time high.
If SHIB holds the level, the analysis predicts a surge to the ultimate target of $0.0001833. From the current market price of $0.00001481, the asset would surge 1,137% to attain the unprecedented price high.
Other Analyses Supporting Surge to $0.000100
Notably, CryptoELITE is not alone in his predictions of a surge to $0.0001833; other analysts have asserted that Shiba Inu will surge to levels around and even above the price mark. For instance, prominent market watcher Javon Marks believes that strong demand and a sustained trend above its breakout point would ensure a rally to $0.0001553.
Market watcher Oscar Ramos asserted a “realistic” target of $0.00017, stating it would happen as early as this year. However, analyst Charting Guy upped the bullishness, predicting the meme coin will hit $0.000200, citing the third wave of an Elliot Wave structure.
Shiba Inu Team Has Higher Price Ambitions
Meanwhile, the Shiba Inu team has predicted far higher price ambitions than the 12x surge to $0.0001833. Earlier, the ecosystem leaders insisted that the meme coin has the prospect of hitting lofty prices, including a 67,421% rally to $0.01.
Lucie recently stressed the possibility, arguing that the meme coin would one day hit $0.01. However, she suggested that attaining this price mark may take a while and urged the Shiba Inu community to be patient.