Alongside other cryptocurrencies, Shiba Inu (SHIB), the second-largest meme coin, has been fluctuating within a specific range – between $0.000014 and $0.00002 before the U.S. elections. After stabilizing post-Trump victory, SHIB started growing, reaching its multi-month peak of around $0.00003. Following a minor correction, this asset resumed its upward trajectory, hitting $0.000033 earlier this month, its highest level since March. However, SHIB not only failed to continue this upward trend but experienced a significant decline in the following weeks. The biggest price drop occurred after the recent Federal Reserve’s FOMC meeting and the broad market crash, during which SHIB’s price plummeted to $0.000018. At the time of writing, SHIB has managed to recover some of its losses and is currently trading around $0.000023. Meanwhile, popular analyst Ali Martinez has issued a buy signal for SHIB. Based on this, he predicts SHIB’s price will reach $0.000029, indicating a 25% increase from the current price and over 55% growth from the local bottom of $0.0000185. Martinez based his prediction on the TD Sequential indicator. It is worth noting that this same indicator recently forecasted local bottoms for Dogecoin (DOGE) and Bitcoin (BTC). According to Santiment data, SHIB’s supply on exchanges has significantly decreased, which is considered a positive signal. On the other hand, whale activity has recently increased, potentially indicating an upward trend in the future. Visit the real-time digital currencies price page to monitor the prices of all tokens and cryptocurrencies live.
