Bitrabo Editorial
After experiencing a significant drop below the $0.000017 support level, the Shiba Inu price has now entered a buy zone, offering a favorable opportunity for investors seeking to enter the cryptocurrency market at a low cost. This development comes as the market anticipates another potential recovery.
Signs of a Buy Zone for SHIB Identified by Analyst
SHIB Knight, a crypto analyst, has pointed out that the Shiba Inu price has entered a buy zone. By sharing a chart on the X platform, he highlighted key levels for the meme coin’s price, including $0.00002392, $0.00002105, and $0.00001837. Of these levels, the most crucial one is below $0.000018, creating new investment opportunities.
Analyzing the situation on the weekly chart, SHIB Knight suggests that Shiba Inu is now in the buy zone. The analyst also identified levels that bulls need to defend to initiate an uptrend, pinpointing them around $0.00001760 and $0.00001766.
According to SHIB Knight, if the bulls can maintain these levels, a price increase is likely. The X post emphasized, “$SHIB is on buy zone at a weekly chart. Bulls should defend this zone for uptrend.”
AI Projects Shiba Inu to Reach $0.00003825
Amid speculation about Shiba Inu’s upcoming price surge, the AI at CoinCodex has forecasted a bullish trend for the meme coin in the coming days. The prediction suggests a potential 121% price surge, propelling the price to $0.00003825, marking a new yearly high.
While short-term prospects appear optimistic, with the expected surge within the next five days, the AI is less bullish on Shiba Inu’s performance in July. It anticipates a notable price drop to $0.00001638, indicating a 4.98% decline from the current level.
Currently, Shiba Inu is facing downward pressure from bears, resulting in a 1.9% decline in the past day and a 7.54% decrease over the past week. The current trading price stands at $0.00001715.