SHIB Bulls Eye 138% Rally — Can Shiba Inu Hit $0.000032 Next?

Shiba Inu (SHIB) might be about to go up big, according to crypto analyst Javon Marks. In a recent post he predicted a 138%...

Quick overview

  • Crypto analyst Javon Marks predicts a potential 138% increase for Shiba Inu (SHIB), targeting a price of $0.000032.
  • Technical indicators show SHIB consolidating in a symmetrical triangle, suggesting a possible breakout as it trades above key levels.
  • The burn rate for SHIB has surged by 438% in the last 24 hours, contributing to its deflationary strategy and increasing community interest.
  • The launch of Shiba Inu futures on Coinbase may pave the way for a potential SHIB spot ETF under new SEC regulations.

Shiba Inu (SHIB) might be about to go up big, according to crypto analyst Javon Marks. In a recent post he predicted a 138% move which would take SHIB to $0.000032, a level not seen since 2022.

Technical charts show SHIB consolidating in a symmetrical triangle on the 2 day chart, a setup that often precedes big breakouts. SHIB just traded at $0.00001341, above key levels and above the pivot ($0.00001333) and 200 day EMA ($0.0000139).

Momentum indicators support this:

  • MACD histogram turned green.
  • RSI didn’t go overbought.
  • Volume is increasing.

Analysts say a close above $0.00001412 with volume could attract algos and fuel the move Marks is expecting.

Burn Rate Spikes 438% in 24 Hours

SHIB community sentiment also got a boost from token burn activity. Burn rate went up 438% in the last 24 hours, reducing supply but the total number of tokens burned is still modest compared to previous burn cycles.

Burning tokens is part of SHIB’s deflationary strategy. By reducing supply, devs want to increase scarcity and support long term value. While not immediate, these spikes often reignite interest among holders and traders.

Coinbase Futures Paves Way for ETF

Another big news is the launch of Shiba Inu futures on Coinbase, listed under the “1k Shib Index”. This could be the path to a SHIB spot ETF under the new SEC rules.

SHIB Price Chart - Source: Tradingview
SHIB Price Chart – Source: Tradingview

The new rules allow crypto assets with regulated futures to go through an accelerated ETF review, potentially in 75 days. That puts SHIB on the “ETF watchlist”.

SHIB is already widely available, trading on over 110 exchanges with over 200 trading pairs. While a standalone SHIB ETF is still speculative, experts think SHIB will be included in multi asset crypto ETFs once regulators move beyond Bitcoin and Ethereum.

For the 1.3 million strong SHIB community, these are good times after the Shibarium exploit. If Marks is right, Shiba Inu is about to have one of its biggest moves in years.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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