BitcoinBTCCryptocurrency EducationEthereumIndustry AnalysisNEARNewsSHIB

Shiba Inu Ready For Upward Movement, Crypto Analyst Says

2 Mins read

In an encouraging development, cryptocurrency analyst “The Coach XD” has given members of the Shiba Inu community optimism with his most recent analysis on the Ethereum-based meme coin, SHIB.

Shiba Inu Sparks Upside Movement 

The crypto analyst revealed his optimism on Shiba Inu placing the meme coin as one poised for an upswing as momentum picks up. Coach XD took to X (formerly Twitter) to share his projections on Shiba Inu’s price action with the SHIB community. 

In the predictions that delve into Shiba Inu’s monthly price action, the expert pointed out that the token’s downward risk appears to be low, and believes a price spike might be the next move.  

Coach XD noted that the SHIB monthly chart is currently demonstrating “key information about where we are.” Despite his optimistic predictions, Coach XD believes that SHIB will first test last month’s starting price before moving higher.

The post read:

Unless we are about to go into oblivion, which I highly doubt, it looks like the downside will completely be minimized here and the upside is the highest probability. A retest of the previous month’s open price, with strong support and remaining in an uptrend.

The Coach XD’s predictions came amidst the token recovery from a price dip it experienced a few days ago. Shiba Inu, like the majority of cryptocurrency assets, suffered a major setback this week following the market’s first downturn since 2024.

The price of Shiba Inu fell by more than 11% on January 3, going from $0.000016 to about $0.00000936 in a matter of hours. This abrupt correction alarmed SHIB investors, as they saw the value of their portfolio plummeting dramatically.

However, the token appears to be slowly gaining momentum heading towards the $0.00001 price mark. As of the time of writing, SHIB is trading at $0.000009423, indicating an increase of over 2% in the past 24 hours.

Factors That Could Bolster SHIB Price

One factor that could propel the price of Shiba Inu in the near future is the approval of the Bitcoin Spot Exchange-Traded Fund (ETF). At least one BTC spot ETF product is anticipated to be approved by the United States Securities and Exchange Commission (SEC) this week.

The SEC’s approval of the proposal could ignite a sharp increase in the price of Bitcoin and other digital assets, such as Shiba Inu. Nonetheless, a rejection may be detrimental to the market, which might lead to a sharp drop in crypto prices.

The Coach XD may have discounted any notable temporary decline in the price of SHIB, but still, care should be taken. This is due to the volatility of the market as it anticipated that prices would move in response to the SEC’s decision on the Bitcoin Spot Exchange-traded Fund (ETF).

Shiba Inu
SHIB trading at $0.0000092 on the 1D chart | Source: SHIBUSDT on


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.