Shiba Inu (SHIB) New Wave Count Predicts a 2000% Rally to $0.00045, Here\'s How

Shiba Inu (SHIB), the second-largest meme coin, has mirrored the recent slump in the broader cryptocurrency market, particularly Bitcoin (BTC).

Shiba Inu (SHIB) has followed the broader cryptocurrency market in experiencing a significant price decline in recent months. This downturn was particularly evident in June, as Bitcoin (BTC) fell below $63,000 and SHIB experienced a steeper decline.

Over this period, SHIB experienced a price drop of over 32%, reaching a three-month low of $0.00001677. This downturn has impacted investor sentiment, with some expressing concern over the future direction of SHIB.

However, some analysts remain optimistic about the meme coin’s potential, offering bullish predictions for its future price trajectory. One such example is market analyst Capt. Parabolic Toblerone (@CaptToblerone), who recently shared his updated bullish prediction for SHIB.

Previously, Capt. Toblerone has utilized a 5-wave Elliott Wave pattern in his analysis of SHIB. This approach has guided his predictions throughout the year, beginning with his initial XRP price prediction in October 2023.

His predictions have gained attention, with Times Tabloid covering one of his earlier projections. Now, Capt. Toblerone has revisited his SHIB analysis in light of recent market developments.

His outlook still anticipates a comeback from the meme coin, but at a higher target than before. Here's a breakdown of his analysis:

Shiba Inu (SHIB) New Wave Count Capt. Toblerone’s revised wave count aligns with the recent price movements of Shiba Inu. Notably, this marks the second adjustment to his analysis since October 2023.

The initial analysis anticipated SHIB holding key support levels throughout its price decline. However, as SHIB breached $0.00002, $0.000019, $0.000018, and $0.000017, Capt. Toblerone adjusted his wave count to reflect these developments.

Capt. Toblerone's updated Elliott Wave structure outlines a potential roadmap for Shiba Inu's price recovery from the current downtrend. Beginning with Wave 1, this analysis anticipates an immediate price increase that could propel SHIB towards $0.00005.

This uptick would not only mark a significant recovery from the recent lows but also establish a new yearly high for the meme coin. Following Wave 1, a potential correction of around 50% is expected in Wave 2, bringing the price down to $0.000025.

Subsequently, Wave 3, generally considered the strongest wave in the Elliott Wave theory, could propel SHIB to $0.00022, which is substantially higher than its all-time high of $0.00008845. We are on twitter, follow us to connect with us :- @TimesTabloid1

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Higher Targets for Shiba Inu (SHIB) Capt. Toblerone's analysis suggests that Shiba Inu might find support around $0.0001 during the correction in Wave 4.

However, this is still above SHIB's all-time high, indicating that the meme coin might not drop below that price if it follows Capt. Toblerone's prediction.

For Wave 5, Capt. Toblerone believes SHIB will keep smashing records, reaching a new all-time high of $0.00045.

The recent price decline has caused Shiba Inu’s Relative Strength Index (RSI) to dip, currently sitting at around 25. This indicates that the coin is considered oversold, which could signal a potential reversal soon.

Other analysts have also expressed bullish sentiments, and a rising RSI after the oversold condition could provide the necessary momentum for SHIB to enter Wave 1.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion.

Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.Follow us on Twitter, Facebook, Telegram, and Google News🎜

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