The Shiba Inu price chart is displaying a new key technical pattern which suggests that a price rally might be imminent. According to crypto analyst, Javon Marks, this technical pattern called a “Hidden Bull Divergence” indicates a potential 330% climb to new price highs.
SHIB’s Positive Reaction To Hidden Bull Divergence
On Tuesday, October 22, Marks took to X (formerly Twitter) to discuss the appearance of a new technical pattern in the Shiba Inu price chart. According to the analyst, Shiba Inu has showcased a Hidden Bull Divergence, a key technical indicator that hints at future price increases for a cryptocurrency despite broader market conditions.
Following the trajectory of this crucial pattern, Marks denotes that SHIB may be on the verge of a major price rally. The analyst has maintained a price target around the $0.000081 threshold for Shiba Inu, highlighting that the popular meme coin could see its price jump as high as 330% or 4X soon.
Despite major fluctuations in Shiba Inu’s price lately, Marks has remained firm in his bullish outlook for the meme coin. He has revealed that the market was currently at the early stages of this projected price increase, meaning that SHIB could see its value climb to $0.00008 in 2025.
This timeline is verified through Mark’s chart which clearly shows the Hidden Bull Divergence in the Shiba Inu price movements. The analyst has also pinpointed an even higher target at around $0.0001553 for SHIB, suggesting that a continuous price rally could see the meme coin giving up a zero and skyrocketing to new all-time highs.
As of writing, the price of Shiba Inu is trading at $.00001775, experiencing a 1% decline in the last 24 hours and another 2.07% decrease over the past week. Despite this obvious down pressure in the Shiba Inu price, Marks remains optimistic that if Shiba Inu can give a positive response to the new Hidden Bull Divergence, then the market should be prepared for a price increase.
Shiba Inu Price Rebound Signals Confirmed
Amidst the strong market volatility, Shiba Inu continues to attempt to break key resistance to reach new highs. A crypto analyst identified as ‘Flatleak’ on X has revealed that SHIB shows signs of an upcoming rebound from recent lows.
While its price currently sits at $0.000017, the analyst has revealed that Shiba Inu has been showing signs of a rebound for the past few weeks, highlighting several key indicators that confirm this narrative. Flatleak has revealed that the SHIB TD sequential has flashed a buy signal, suggesting that downward pressures may be losing momentum.
Moreover, increased interest in retail investors combined with its supportive community continues to support its price. Based on these positive developments, the analyst has revealed that Shiba Inu’s next bull target would be $0.000022.
Featured image created with Dall.E, chart from Tradingview.com
