Analyst Bullish on Shiba Inu, Sees 235% Surge Despite Recent Fall

Bibhu Pattnaik

December 21, 2024

The cryptocurrency market has shown resilience following a significant downturn, with Shiba Inu (CRYPTO: SHIB) leading the recovery.

What Happened: A prominent market analyst predicts the dog-themed token could achieve a massive 235% rise, reaching a new yearly high of $0.00005816.

The broader crypto market faced turbulence earlier this week, as Bitcoin (CRYPTO: BTC) plunged over 10% in two days, causing a ripple effect across altcoins.

Shiba Inu retraced to a key support level around $0.0000185 during this period. However, SHIB has rebounded impressively, surging 28% from its lows and trading above $0.0002216 as of Saturday morning. According to Benzinga Pro, It is almost up by 9% in the last 24 hours.

Renowned analyst Dollars Maker shared a bullish outlook on Shiba Inu in a recent TradingView post. He noted that the token has further upside potential, outlining three ambitious price targets. According to Dollars Maker, SHIB could first see a 92% increase to $0.00003339, followed by a 163% surge to $0.00004566.

Also Read: Shiba Inu Soars To Eight-Month High, Up 13% as Meme Coins Rally

Ultimately, the analyst predicts SHIB will achieve a 235% spike, hitting $0.00005816. This would surpass its previous high of $0.000045 recorded in March 2024, but no specific timeline was provided for this projection.

Shiba Inu's recent recovery and growing optimism among analysts suggest that the token may be gearing up for significant gains, making it a focal point for crypto enthusiasts in the weeks ahead.

The meme coin surged by 208% so far in 2024, catapulting its market capitalization to $18.28 billion.

According to data from Benzinga, SHIB's market cap has been steadily increasing since September, with capital inflow into the Shiba Inu network propelling the ecosystem's market cap from $7.57 billion in the first week of September to $19.41 billion as of December 5.

Trump's Legacy-Defining Moment to Strike - Ad

Elon Musk: "The Government Is Out of Control." - Ad

Time Magazine's "Armageddon Man" Goes Rogue - Ad

ATLANTA (AP) — Nearly 3 million people could receive a boost in payments under legislation set for a final Senate vote in the coming days.

Bitcoin, Ethereum, Dogecoin Retreat Further As Crypto Liquidations Top $1 Billion: Analyst Lays Out Scenario For BTC Losing $96K Support

The cryptocurrency market cracked further Thursday as risk sentiment remained low following the Federal Reserve’s hawkish statements.

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined - Ad

Forget rockets or brain implants... Elon's new AI product could be his biggest invention yet. Jeff Brown tried it himself recently and caught his experience on camera. See this footage because according to Tesla Magazine, this new product "could well shape the technological and economic future of our society."

Qualcomm Bags Win In Chips Licensing Trial Against Arm, But The Battle Is Not Over Yet

Qualcomm bagged a key win in its legal battle against semiconductor design company Arm Holdings.

Data on animal movements help Hungarian researchers create a swarm of autonomous drones

BUDAPEST, Hungary (AP) — Moving in a dense cloud, like throngs of people walking across a crowded public square, 100 drones maneuver through the night sky in Hungary's capital, the result of over a decade of research and experimentation that scientists believe could change the future of unmanned flight.

Tech Funds Are Hemorrhaging Cash: Sell This Stock Now

Tech Funds Are Hemorrhaging Cash: Sell This Stock Now - Ad

U.S. technology funds are HEMORRHAGING cash. It's the biggest selloff since the 2022 bear market. A 50-year Wall Street veteran just explained everything you need to know. For now, he's pounding the table on the No. 1 tech stock to BUY before 2024 comes to an end... And the No. 1 tech stock Wall Street says to sell NOW.

Senate begins final push to expand Social Security benefits for millions of people

WASHINGTON (AP) — The Senate is pushing toward a vote on to millions of people, setting up potential passage in the final days of the lame-duck Congress.

More student loans canceled in Biden's final round of forgiveness before leaving office

WASHINGTON (AP) — The Biden administration is canceling federal for another 55,000 workers through an existing program known as Public Service Loan Forgiveness.

Man Who Called Nvidia Says "Buy These Five AI Stocks."

Man Who Called Nvidia Says "Buy These Five AI Stocks." - Ad

In 2016, Jeff Brown called Nvidia at a split-adjusted 66 cents. The company just became the world's third $3 trillion company...And the stock is up massively since Jeff's recommendation. Now, Jeff has found five under-the-radar stocks which could power your retirement. And it's in large part because these companies are connected to Elon Musk and Nvidia.

Big Lots conducts going-out-of-business sales after sale of company falls through

NEW YORK (AP) — Discount chain Big Lots is conducting going--out-of-business sales at its remaining locations after a sale of the company didn't materialize.

FedEx Positioned As Largest Pure-Play North American LTL Carrier Post-Separation: Analyst

BofA analyst raises FedEx price target to $348, citing potential value creation post-separation, and increases EPS estimates for FY25 and FY26.

Man Who Predicted Trump 2016-2024: Secret Executive Order Will Disrupt Financial Markets

Man Who Predicted Trump 2016-2024: Secret Executive Order Will Disrupt Financial Markets - Ad

Jim Rickards, famed Trump 2016-2024 predictor and CIA advisor, just dropped a new bombshell: a secret executive order could disrupt markets. His latest prediction has major implications for your financial future.

Jim Cramer Warns Of 'Incredible Panic' As Jerome Powell's Hawkish Outlook Send Stocks Into Free Fall: 'People Throwing Away Good And Bad'

The U.S. stock market experienced a severe selloff Wednesday after Federal Reserve Chair Jerome Powell‘s comments triggered what CNBC’s Jim Cramer described as “incredible panic” in the markets.

Top 3 Industrials Stocks Which Could Rescue Your Portfolio For December

The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Elon Musk considers funding Nigel Farage's populist party, a move that could shake up UK politics

LONDON (AP) — It’s a photo that sent a tremor through British politics: flanked by British politician and a wealthy backer, in front of a gilt-framed painting of a young .

Mark Cuban's Unconventional Morning Routine: 'You're Going To Be Shocked'

Billionaire Mark Cuban shared his daily routine, which he believes might surprise many.

Is Artificial Intelligence the Biggest Bubble in History?

Is Artificial Intelligence the Biggest Bubble in History? - Ad

Is it any surprise 31 billionaires (including: Warren Buffett, Elon Musk, Jeff Bezos, and more) are quietly unloading their OWN stocks at record pace? They're getting OUT of AI (and Tech Stocks) before it's too late. But why? And WHERE are they moving their cash for the biggest profits, in 2024?

Unionized workers at US Starbucks stores plan strikes starting Friday

Workers at stores plan to go on a five-day strike starting Friday to protest lack of progress in contract negotiations with the company.

Bill Ackman Says Events Around The Scuttled Spending Bill Provide A Road Map For 'Rapid DOGE Progress'

Bill Ackman outlined a three-step strategy for the Department of Government Efficiency (DOGE) to influence policy, citing its role in the rejection of the spending bill.

Did You See Trump's Bombshell Exec. Order 001?

Did You See Trump's Bombshell Exec. Order 001? - Ad

Biden broke it... Now Trump is going to fix it. Starting with "Exec. Order 001." It's a bombshell law that Trump could sign within minutes of stepping into the Oval Office... And it will instantly set off the most sweeping government technology project in 80 years... The most lucrative, too...

Italy's privacy watchdog fines OpenAI for ChatGPT's violations in collecting users personal data

ROME (AP) — Italy’s data protection watchdog said Friday it has fined OpenAI 15 million euros ($15.6 million) after wrapping up a probe into the collection of personal data by the U.S. artificial intelligence company's popular chatbot ChatGPT.

Edmunds: The best midsize SUVs for families in 2025

Along with smartphones and streaming subscriptions, the three-row SUV is now a staple of American family life. And since nearly every automaker sells one, choosing the right one can feel overwhelming.

There's Only ONE AI Company That Matters

There's Only ONE AI Company That Matters - Ad

It's not Nvidia, AMD, IBM, or any new startup. It's not even an artificial intelligence company... yet it holds the key to the entire AI market. Get all the details of the critical technology that the entire AI sector needs to survive.

2 killed and 3 injured when freight train derails in small West Texas city

PECOS, Texas (AP) — Two Union Pacific employees were killed and three people were injured when a freight train collided with a tractor-trailer and derailed in a small West Texas city, authorities said Thursday.

Stock market today: Asian shares are mixed after Nasdaq sets a record ahead of Fed meeting

BANGKOK (AP) — Shares were mixed in Asia on Tuesday after the Nasdaq set a record ahead of a meeting by the later this week that could set the direction for markets in the new year.

My TOP Altcoin for Right Now Is...

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Nancy Pelosi, Cathie Wood, Nvidia-Backed Databricks Waits To Go Public: 'Dumb To IPO' In Election Year

Databricks was valued at $62 billion in a recent funding round. Here's why the company isn't in a hurry to have their IPO.

Trump wants debt ceiling in the budget deal. If not, he says let the government shutdown start now

WASHINGTON (AP) — Hours before the start of a , President-elect doubled-down Friday on his insistence that a debt ceiling increase be included in any deal — and if not, let the closures “start now.”

"King of the Quants": Please Don't Take This Warning Lightly...

"King of the Quants": Please Don't Take This Warning Lightly... - Ad

My system has recently uncovered a market phenomenon I haven't seen in 30 years.Some fortunate folks like me built generational wealth back then...while others lost their shirts and spent decades trying to recover. Well, something similar is happening today... but it will end in a much bigger way. This market shakeup is going to be much more intense.

MacKenzie Scott gives rare third gift to medical debt relief group

MacKenzie Scott continues to make medical debt relief a priority in her mysterious giving.

TikTok asks federal appeals court to bar enforcement of potential ban until Supreme Court review

TikTok asked a federal appeals court on Monday to bar the Biden administration from enforcing a law that on the popular platform until the Supreme Court reviews its challenge to the statue.

Trump's Shocking Plan to Go All-in on Radical New "Quantum Energy"?

Trump's Shocking Plan to Go All-in on Radical New "Quantum Energy"? - Ad

It's 17,000 times more powerful than gas... 2.75 million times more powerful than coal... and a staggering... 3 million times more powerful than oil. It could also save the United States as much as $2.2 trillion every year in energy costs. It's no wonder this incredible new energy source is a major Trump priority.

DOJ files complaint against CVS for facilitating unlawful sale of prescription opioids

The Justice Department unsealed a civil complaint Wednesday alleging CVS Pharmacy Inc. and various subsidiaries filled “unlawful” prescriptions in violation of the federal Controlled Substances Act.

Bitfinex Hacker Of 'Biggest Heist Ever' Documentary Takes Responsibilityâ€”But His Wife Has Other Ideas

Ilya Lichtenstein confesses to Bitfinex hack and expresses remorse. Plans to use hacking skills in cybersecurity. Wife Heather Morgan turns to Cameo.

There's One Thing Trump and Musk Can't Fix

There's One Thing Trump and Musk Can't Fix - Ad

Donald Trump and Elon Musk are teaming up to fix America's broken government. With the launch of the Department of Government Efficiency, they're planning to cut $2 trillion from the federal budget. But sadly, there's ONE thing Trump and Musk can't fix.

The Federal Reserve expects to cut rates more slowly in 2025. Here's what that could mean for you

NEW YORK (AP) — The Federal Reserve's of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.

Suspect in UnitedHealthcare CEO killing faces new federal murder charges with his return to New York

NEW YORK (AP) — The suspect in the killing of was whisked back to New York by helicopter Thursday to face new federal charges of murder and stalking, escalating the case after his earlier indictment on state charges.

Set Your Alarm For 1:59 P.M. on January 31st Because THESE Stocks Set To Rocket Up

Set Your Alarm For 1:59 P.M. on January 31st Because THESE Stocks Set To Rocket Up - Ad

1:59 P.M. on January 31st. Set an alarm for that. Because you need to be prepared for an event that will send a certain group of stocks rocketing upward.

Stifel Sees Opportunity In DT Midstream Pullback: Upgrades Rating On Diversified Growth Potential

Stifel analyst upgrades DT Midstream to Buy and raises price target, citing attractive opportunity for investors and potential for investment grade upgrade.

Trending Now