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Analyst Believes SHIB Will Hit New All-Time High In This Bull Cycle

The cryptocurrency market is optimistic as investors anticipate new highs for top assets. Among them, Shiba Inu (SHIB) has gained attention from analysts forecasting significant price gains in the current market cycle. Shiba Inu Expected to Break Previous Record A notable market analyst, Crypto Sheriff, has predicted that Shiba Inu could surpass its all-time high of $0.00008616, achieved during the 2020/2021 market cycle. In a post shared on December 15, the analyst stated that the outcome is inevitable, emphasizing the coin’s potential in the ongoing bullish trend. It is inevitable that #SHIB will break down ATH in this supercycle! pic.twitter.com/owuMMgpwoh — CRYPTO SHERIFF (@Gem_Sheriff) December 15, 2024 This prediction follows the asset’s impressive performance in November 2024, where the token rallied approximately 98% after the U.S. presidential election. Many believe Donald Trump’s victory signaled a crypto-friendly shift in U.S. policy, contributing to the token’s rise from $0.00001687 to $0.00003343. Meanwhile, the asset has retraced some gains and is trading at $0.00002682. Analysts Highlight Shiba Inu (SHIB) Bullish Patterns While Crypto Sheriff maintains a positive outlook, other analysts have provided additional technical insights supporting the possibility of a significant price increase. On December 10, CryptoELITES identified a bullish cup-and-handle formation on Shiba Inu’s weekly chart. The analyst noted that if the token breaks above a long-standing downtrend line, it could potentially reach $0.0004729, marking a 1,700% increase from its current value. The downtrend, which has acted as a resistance level since October 2021, is considered a critical barrier. According to CryptoELITES, breaking through this resistance would confirm the bullish pattern and set the stage for a sustained upward trend. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Risk of Downside Movement Despite the optimism, some analysts have highlighted potential risks. As earlier reported by Times Tabloid, market commentator PouyanTradeFX warned that if Shiba Inu fails to overcome the downtrend, the token could significantly decline. In this scenario, prices might drop by as much as 150%, bringing SHIB to the $0.000011 range. Such contrasting analyses underscore the importance of closely monitoring technical indicators and market conditions. While many remain bullish, the outcome will largely depend on how the asset performs in the face of these key resistance levels. The asset’s recent performance and technical setups have fueled speculation about its potential to reach new highs. Analysts like Crypto Sheriff and CryptoELITES are optimistic about the token’s future, while others urge caution, emphasizing the importance of breaking resistance levels to confirm a bullish trend. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Analyst Believes SHIB Will Hit New All-Time High In This Bull Cycle appeared first on Times Tabloid .

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bitcoin Breaks $100,000 Barrier Again: Latest Price Surge

BTC Surpasses $100,000 Once Again! ————— ????Coin: BTC ( $BTC ) $100,032.00 ————— NFA. TimesTabloid

7.8M Ethereum Leaves Binance In Two Months—What Does This Mean for ETH?

The Ethereum market has recently seen a notable shift, with significant outflows from centralized exchanges sparking discussions about the near term trajectory of the cryptocurrency. Amid this, Ethereum has recorded a 2.4% decrease in the past 24 hours with a current trading price of $3,858, marking a 21.1% decrease away from its all-time high of $4,878 seen in 2021. Related Reading: Ethereum Whales Load Up: Bullish Sign Or Bear Trap? Ethereum Withdrawals from Binance Surpass 7.8 Million ETH Data from CryptoQuant reveals that approximately 20.8 million ETH have been withdrawn from centralized exchanges in the past two months, a trend reminiscent of the 2021 bull market. Binance has played a central role in this movement, accounting for over 7.8 million ETH, which represents 33-39% of the total outflows. These outflows could be indicative of investors accumulating ETH for long-term holding or staking purposes, as suggested by CryptoQuant analyst Crazzyblockk. The analyst added: These significant outflows from Binance indicate the platform’s continued influence on the cryptocurrency market, especially in balancing supply and demand for Ethereum. Notably, Binance’s influence is particularly evident given its global user base of 250 million and a record $21.6 billion in deposits this year, according to Crazzyblockk. The substantial outflows from Binance align with bullish market sentiment, as large-scale withdrawals often signal investor confidence. These movements suggest that Ethereum holders are moving their assets off exchanges. This reduction in the available supply of ETH on exchanges can create upward pressure on prices, should demand remains consistent or grows. Etheruem Market Performance And Outlook Ethereum has so far been struggling to make significant price move to the upside ever since the latest crypto market bull run began months ago. Despite Bitcoin seeing consistent gains recording new all-time highs nearly every month, Ethereum has lacked enough upward momentum to push its price past the $4,000 barrier. It is worth noting that this sluggish performance from Ethereum comes amid the positive developments ongoing in the crypto space including the recent news of Deutsche Bank, Germany’s largest lender reportedly working on its own layer-2 (L2) blockchain on Ethereum using ZKsync technology. JUST IN: Deutsche Bank building its own Layer-2 on Ethereum – Bloomberg pic.twitter.com/5O5K3R1fRg — Radar???? (@RadarHits) December 18, 2024 Regardless of such news, ETH has seen a slight increase of 2.3% in the past week, , a lower performance compared to that of Bitcoin’s 5% increase over the same period. Related Reading: Ethereum Spot ETFs Witness Unbroken 16-Day Inflow Streak: New ETH ATH Soon? According to analysts, Ethereum could still likely see further correction in its price as bearish signals recently formed on its chart suggesting a potential drop to 3,400. $ETH has formed a bearish double top, with RSI showing bearish divergence and a MACD crossover confirming the trend. A short-term correction could bring it to $3,400, with major support at $3,200 and $3,000. #Ethereum #CryptoTrading #eth pic.twitter.com/iWaPh1vwrr — crypto vulture Trader ???? (@crypto_vulture1) December 18, 2024 Featured image created with DALL-E, Chart from TradingView TimesTabloid