Shiba Inu (SHIB) Bulls Eye Entry as Analysts Predict Potential Comeback

Crypto experts are monitoring Shiba Inu’s trajectory as the meme coin faces a potential accumulation phase. While some expect further dips, others see current levels as a buying opportunity, anticipating a potential rebound soon. The market sentiment appears divided, with varying price targets and outlooks for SHIB.

The recent market shifts have sparked contrasting viewpoints among crypto enthusiasts regarding the future trajectory of SHIB. Crypto analyst The Don of Apes, while anticipating a potential drop to $0.000018, has identified this level as a potential good entry point for investors. This sentiment suggests a potential recovery from this support zone, although the analyst did not explicitly state it.

Meanwhile, respected crypto educator Rafaela Rigo has actively seized the opportunity presented by SHIB’s price dip. In a  post on the X platform, Rigo disclosed her commitment to purchasing additional SHIB tokens, reinforcing her bullish stance on the meme coin. This move aligns with her previous projection of a 130% rally for Shiba Inu, despite its prolonged downtrend.

Crypto analyst SHIB Knight addressed the recent market downturn, asserting that Bitcoin’s dip below $68K appears significant in the short term but represents typical market activity on the weekly chart. Despite this, SHIB Knight anticipates a potential drop to $63K, which he considers a retest of the bullish breakout level.

Notably, SHIB Knight expects new all-time highs (ATHs) for Bitcoin if the retest at $63K occurs successfully. However, such a move could significantly impact altcoins like Shiba Inu. Consequently, the analyst had emphasized that Shiba Inu is currently in a buying zone based on technical formations observed on the weekly chart.

At the time of writing, the price of Shiba Inu (SHIB) stands at $0.00002219, representing a 0.19% increase over the past day but a 15.35% dip in the past week, according to data from CoinGecko. The trading volume for SHIB over the past 24 hours is $764,214,934.95.