- Javon Marks remains bullish, predicting SHIB to reach $0.000071 soon, with an ultimate goal of $0.000081 still in sight.
- A whale accumulates 500.85 billion SHIB, signalling strong buying interest amid the current price dip, hinting at market optimism.
Shiba Inu (SHIB) has become a focal point for crypto analysts, with projections suggesting a trajectory beyond its previous peaks. A notable crypto analyst has posited that Shiba Inu is on course for a surge of 433% to reach $0.0001553, a figure well above its historical high.
The backdrop to this optimistic forecast is a recent downturn, with Shiba Inu conceding over 30% of its value, marking a descent to $0.00002786. This decline mirrors a wider market correction led by Bitcoin, with SHIB struggling to mount recovery. Presently, the digital currency exhibits a slight 4% depreciation over the past day, stabilising at a market value of $0.0000291.
Amid these challenging conditions, Javon Marks, a distinguished market observer, has reinforced his bullish stance on SHIB. Marks, having initially set a target of $0.000081 for the token in September 2023, celebrated a 531% increase in its value since.
Since the attached and more original analysis, prices of $SHIB has shown MASSIVE STRENGTH, climbing approximately +531%, but these prices can be set for even more growth!
With the breakout target still at $0.000081, prices of Shiba Inu could have another +147% move coming.
A… https://t.co/ZjA5onlnBO pic.twitter.com/YuUllePvbl
— JAVON⚡️MARKS (@JavonTM1) March 13, 2024
Despite this impressive rally, as we have previously discussed in ETHNews, he contends that SHIB’s journey is far from over, predicting another 147% uptick in the near term to hit the $0.000071 mark, and maintaining that a climb to $0.000081 is well within reach, reminiscent of the peak periods of 2021.
Marks extends his analysis further, arguing that reaching the $0.000081 milestone could pave the way for SHIB to explore new price heights, potentially accruing an additional 90% gain to breach the unprecedented $0.0001553 level. Such a rally would represent a substantial 433% increase from its current valuation, surpassing SHIB’s zenith of $0.00008845.
In parallel developments, recent on-chain activity revealed a significant accumulation of Shiba Inu by a whale, with transactions totalling 500.85 billion SHIB, valued at approximately $14.35 million.
5 hours ago, a whale just created 7 Fresh Wallets and transferred exactly 71.55B $SHIB ($2.05M) from #Coinbase to each wallets.
In total, he did accumulated 500.88B $SHIB (~$14.35M)
Here are the addresses:https://t.co/1D63iCOVEzhttps://t.co/DUFJhpUSeEhttps://t.co/DRqn0J9iYw
— The Data Nerd (@OnchainDataNerd) March 18, 2024
This manoeuvre, executed across seven newly created wallets, underscores a robust buying interest amidst the token’s downward trend. It also signifies a potential shift in sentiment, as whales appear to be positioning themselves for SHIB’s resurgence.
This series of bullish predictions and strategic accumulations by high-net-worth individuals is stoking anticipation for SHIB’s future performance. With the token currently trading 67% below its all-time high, the actions of these whales and the ensuing market response could be instrumental in propelling SHIB towards new horizons in the forthcoming bull season.
