A recent survey on social media platform X revealed that Coach K, a cryptocurrency expert and technical analyst based in Bangkok, expects a bright future for Shiba Inu (SHIB). This meme coin is anticipated to begin a major uptrend soon. This forecast comes at a crucial time for SHIB since the market trends currently in force have made investors concerned about further depreciation of the token.
Coach K believes Shiba Inu’s experience shows the platform’s past trends, especially those that occurred shortly after its release. In the first half of 2021, the SHIB token registered a massive spike in its price and, therefore, returns. However, after that, the company experienced many fluctuations in its value, often decreasing.
Analysts also highlighted these struggles in the current market for SHIB and referred to The Don of Apes’ analysis, which said that the token might further drop to the $0.00002 level and possibly even $0.00001822. However, with this decline, most investors think this is the right time for long-term investors and stakeholders to buy SHIB tokens at a cheaper price.
Looking at the past data of Shiba Inu, it is evident that it also has massive fluctuations followed by sharp drops. A clear instance of this was witnessed at the start of 2021 when the token shot through the roof – from February 24 to March 5, the coin appreciation was 370%, and a new yearly high above $0.000045 was compromised. Subsequently, there was a massive drop in SHIB, but the currency was still higher than the price before the spike.
As per the information shared by Coach K, the price of Shiba Inu plummeted by 80%, and it was trading below $0.00000698 after a massive surge in its price, which occurred in 2021 on May 22. This was the start of the negative trend observed for several consequent months. However, towards the end of September 2021, there were suggestions that this meme coin was going out of the bearish area and entering the second phase of the broader bullish market. For this reason, it rose to a record high of $0.00008845 in October this year.
Coach K believes that Shiba Inu is in the same bearish phase now but expects a similar bounce after summer, just like it did in 2021. He defines the expected rise as the “real bull” phase. As much as Coach K has not indicated particular price levels to aim for, other personalities in the world of cryptocurrencies, such as the media personality Eljaboom, suggest that the next bull run could potentially see $Shib increase to levels of $0.00024 or even more than previous highs.
This evaluation not only provides more extensive insights into the potential future situations of Shiba Inu but also highlights the cyclical characteristics of the cryptocurrency market. Previous movements can be useful in predicting future movements because, on most occasions, past trends can be used to predict future movements. For the investors or enthusiasts of Shiba Inu, the coming months will be vital as they maintain a keen watch and wait for fundamentals that would back up Coach K’s positive outlooks.