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The Shiba Inu cryptocurrency, often celebrated for its meme coin status and a vibrant community, is currently preparing for what could be an unprecedented rally, despite the recent downturn in its market price. Analyst Cantonese Cat has brought attention to a bullish signal emanating from the less commonly referenced L3 Banker Fund Flow Trend Oscillator. This particular indicator suggests that SHIB is not just on the brink of recovery but is poised for a significant surge. Cantonese Cat, through a comprehensive YouTube video analysis, showcased SHIB’s potential trajectory amidst its current positioning against other cryptocurrencies. This analysis indicated that SHIB, along with nine other digital currencies including Optimism, Avalanche, Cardano, and Chainlink, is exhibiting a strong buy signal as per the oscillator’s readings.
Upon delving deeper, it becomes apparent that the bullish forecast for Shiba Inu is founded on both the oscillator’s indication and a subsequent interpretation using Fibonacci extension levels. Historically, the oscillator last flashed a buy signal for SHIB in July 2023 when it traded below $0.000008, followed by a consolidation period that extended over six months before witnessing a significant price rally amidst a broader market upturn in February 2024. Moving into October 2024, these signals recurred, forecasting an upcoming bullish momentum for SHIB that could see it surge by as much as 2430% to reach the “crazy target” of $0.00047.
These ambitious projections are not without their hurdles; for SHIB to achieve such heights, it must successfully navigate through a lattice of resistance levels, surpassing its all-time high and then some. The initial target as per the analysis aligns with the coin’s current peak at the first Fibonacci extension level of $0.0000884, representing a significant but achievable goal within the crypto’s trading framework. The ultimate ambition, a 2430% leap to $0.00047, sits at the 1.618 Fibonacci extension level, suggesting a scenario where SHIB would not only transcend its previous best but enter a new realm of valuation altogether.
Interestingly, Cantonese Cat tempers expectations with the admission that while the upper echelon target is a stretch goal, a more conservative yet still optimistic aim would be a 10-fold increase from its current valuation. As of the latest trading figures, SHIB has seen a decrement, trading down by 6% over the last 24 hours at $0.00001733. This forecasted bullish run, especially as articulated through technical indicators like the L3 Banker Fund Flow Trend Oscillator and Fibonacci levels, paints a potential future where SHIB not only rebounds but sets new benchmarks for its performance, aiming for a significant bull run by as late as August or September 2025.
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