TL:DR;
- Shiba Inu rose on Sunday, but fell sharply on Monday, along with the rest of the market.
- However, some analysts believe this could be the calm before the storm, and even envision a new all-time high for the popular meme currency.
SHIB’s Monday crash
CryptoPotato reported yesterday on the positive price developments around the second largest meme coin. At the time, SHIB was the best performer among larger-cap alternatives, having risen more than 15% on a 24-hour scale. As a result, SHIB soared to its highest levels since March this year of over $0.000033.
However, the entire crypto landscape changed on Monday and many assets plummeted hard. Bitcoin, for example, fell from above $98,000 to below $95,000 amid potential profit-taking by whales.
The largest native Shiba Inu token was not spared either, falling almost 10% on a daily scale to well below $0.00003. However, popular
Correction made in $SHIB
WE COULD HAVE ANOTHER WAVE FROM HERE #ShibaInu pic.twitter.com/h6M0Uwz6jB
— DIAMOND HANDS (@TamngwaB) December 2, 2024
Ali, another well-known technical analyst, has $0.000037 in his sights and believe The asset could reach that level as long as it stays above the crucial support of $0.000025, which still holds.
Naturally, there are certain SHIB-related pages that continue to be highly bullish on the asset’s prospects in the near future, highlighting the potential to reach a new all-time high. To do so, SHIB would need to triple its price from its current levels, as its ATH sits at $0.00008616, according to CoinGecko.
Greater strength
Javon Marks told his nearly 50,000 followers on As such, the analyst noted that there is still $0.000081 in play, meaning that SHIB could soon target that aforementioned ATH.
$SHIB (Shiba Inu), after recently confirming another bullish pattern, appears to further join the bullish show as prices are now showing signs of GREAT STRENGTH.
Since holding breakouts implies the $0.000081 target is still in play, these prices may be subject to another… pic.twitter.com/lu2QT5FzEg
— JAVON⚡️BRANDS (@JavonTM1) December 1, 2024
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